Thu Jan 30 14:12:19 UTC 2025: ## ITC Hotels Opens Lower on Stock Exchange Debut

**Mumbai, January 7, 2025** – ITC Hotels, the recently demerged hospitality arm of ITC Ltd., began trading on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) today, opening significantly below its pre-determined price. Shares debuted at ₹188 on the BSE, a 30.3% drop from the ₹270 discovered price during a special pre-open session on January 6th. On the NSE, the opening price was ₹180, down from ₹260. This resulted in a market capitalization of ₹39,126 crore.

The lower-than-expected opening price was largely in line with pre-listing predictions from various brokerage houses, who had projected prices ranging from ₹113 to ₹300 per share. Under the demerger scheme, ITC Ltd. shareholders received one ITC Hotels share for every ten ITC shares held, with ITC Ltd. retaining a 40% stake. British American Tobacco (BAT), a 25% shareholder in ITC Ltd., is now expected to hold a 15% stake in ITC Hotels.

ITC Ltd. shares closed 0.45% lower at ₹433.30, with a market cap of ₹5.4 lakh crore. The overall market, however, showed positive movement.

ITC Hotels, established in 1975, operates 140 properties with 13,000 rooms across six brands catering to various market segments. The company boasts a debt-free balance sheet and substantial assets, and aims to expand its portfolio to 200 hotels and 18,000 rooms in the next four to five years.

The listing comes ahead of ITC Ltd.’s third-quarter earnings report, scheduled for February 6th, 2025, which will be the first since the demerger. The company’s board will also consider an interim dividend declaration for the fiscal year ending March 31st, 2025.

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