Tue Dec 17 08:29:30 UTC 2024: ## ITC Hotels to Officially Demerge from ITC Ltd. on January 1, 2025
**Mumbai, India** – ITC Ltd. announced Tuesday that its hotel business, ITC Hotels, will officially demerge from the parent company on January 1, 2025. The National Company Law Tribunal (NCLT) has sanctioned the demerger scheme, finalizing a process that began earlier this year.
The company received the certified copy of the NCLT order on December 16th, confirming the fulfillment of all conditions outlined in the demerger agreement. The share price of ITC Ltd. rose 2.4% following the announcement.
This development comes after ITC Ltd. reported strong second-quarter earnings in October, with a 1.9% year-on-year profit increase to Rs 4992.87 crore and a 15.6% rise in revenue to Rs 22,281.89 crore. The Hotels segment itself showed robust growth, contributing significantly to the overall results.
The news of the demerger follows the October approval by the Kolkata bench of the NCLT. The separation of ITC Hotels is expected to allow both entities to pursue independent growth strategies. The timing of the demerger has been set as the first day of January 2025.
*(Note: The information about SECI and Andhra Pradesh’s renewable energy deal is unrelated to the ITC demerger and has been excluded from this news article.)*
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