Mon Jan 06 07:10:44 UTC 2025: ## ITC Stock Drops After Hotels Spin-off

**Mumbai, January 6, 2025** – Shares of ITC Ltd., the Indian conglomerate, experienced a significant drop following the spin-off of its hotels business into a separate listed entity. In a special pre-open trading session on Monday, ITC’s stock price fell approximately 5%, settling at ₹455.6. This compares to Friday’s closing price of ₹481.6 before the adjustment for the spin-off. After the adjustment, ITC’s stock was down a further 1.1% by 11:03 a.m. IST, trading at ₹450.55.

The spin-off, effective January 1st, will see ITC shareholders receive one share in the new ITC Hotels entity for every 10 ITC shares they hold. This values ITC Hotels at ₹260 per share based on the price adjustment. ITC will retain a 40% stake in ITC Hotels, with the remaining shares available to the public. Trading of ITC Hotels shares is expected to commence in February.

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