ITC hotel business demerger to be effective from Jan 1, 2025

ITC fixed January 1, 2025, as the effective date for demerger of its hotel business after receiving an approval order from National Company Law Tribunal. The demerger was approved by shareholders in June. Following the demerger, ITC will retain 40% stake in ITC Hotels, with ITC shareholders acquiring the remaining 60% in proportion to their stake in the parent entity.