Wed Jan 29 09:51:38 UTC 2025: ## Mahakumbh Mela Peaceful, ITC Hotels Shares Dip on Listing

**Prayagraj, India** – The Mahakumbh Mela in Prayagraj is proceeding peacefully under tight security, with the ritualistic “Amrit Snan” (holy bath) commencing without incident. Meanwhile, the newly-listed ITC Hotels experienced a significant drop in share price.

Other news includes the launch of the Raxaul-Jaynagar DEMU passenger train service and the granting of a 30-day parole to Dera Sacha Sauda chief Gurmeet Ram Rahim Singh.

ITC Hotels shares debuted on the National Stock Exchange (NSE) at ₹180 per share, a 31% decline from its estimated value of ₹260. The listing followed a demerger from its parent company, ITC, with existing ITC shareholders receiving one share of ITC Hotels for every ten ITC shares held. While approximately 60% of ITC Hotels shares were distributed to ITC shareholders, ITC retains a 40% stake. A special trading session was held on January 6th to determine the value of the demerged entity, resulting in a ₹27 drop in the price of ITC shares (excluding the hotel division). The demerger transferred ownership of numerous hospitality assets to ITC Hotels.

**Disclaimer:** *Prabhat Khabar does not provide investment advice. Market analysis is presented based on information from market experts and brokerage firms. Consult certified professionals before making any investment decisions.*

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