Following the demerger of ITC Resorts from diversified conglomerate ITC Ltd, shares of the hospitality firm had been listed at ₹180 apiece on the Nationwide Inventory Alternate (NSE) on Wednesday, whereas on BSE, shares had been listed at ₹188 per share.
After debuting, the shares fell on each bourses. The inventory dropped by 4.81 per cent from the itemizing value to ₹171.35 on NSE as of 14:36 p.m. On BSE, shares fell 5 per cent to ₹178.60 apiece.
Notably, the Kolkata-headquartered ITC Ltd mounted the efficient date for the demerger of its Resorts enterprise on January 1, 2025. The report date was mounted as January 6 to find out the shareholders of ITC Ltd to whom fairness shares of ITC Resorts can be allotted pursuant to the demerger.
Share entitlement ratio
As per the share entitlement ratio of 10:1, shareholders holding 10 shares of ITC Ltd obtained one share of ITC Resorts post- demerger as on the report date.
ITC Ltd has retained a 40 per cent stake in ITC Resorts, whereas the remaining 60 per cent is distributed amongst current shareholders.
Landmark second
Talking on the itemizing programme at NSE, Sanjiv Puri, Chairman, ITC Resorts, stated, “Right this moment is certainly a landmark second in ITC’s journey. Itemizing of ITC Resorts marks not only a new chapter for the ITC Group’s hospitality enterprise, however a daring step ahead in our dedication to creating enduring worth for all stakeholders.”
Puri stated as ITC Resorts launched into this new journey, it was dedicated to reaching new world benchmarks in hospitality whereas staying rooted in its imaginative and prescient of sustainability and inclusivity. “The long run certainly guarantees thrilling alternatives to broaden, innovate, and redefine luxurious experiences. As we accomplish that, ITC Resorts can be dedicated to enriching the tourism panorama of India contributing to the nation’s targets for a Viksit Bharat,” he added.
Anil Chadha, Managing Director, ITC Resorts, stated, “Right this moment is a time in historical past once we need to reinforce our dedication to constructing considered one of India’s best hospitality chains that may redefine the way forward for hospitality. ITC Resorts carries a historical past constructed on belief, innovation and satisfaction. As we glance forward, ITC Resorts is able to take daring strides as an unbiased, agile and pure play hospitality entity.”
The corporate aimed to be a world chief in Indian hospitality pushed by its core ethos of buyer centricity, excessive efficiency and steadfast dedication to sustainability, Chadha added.
ITC Resorts portfolio
Working throughout all hospitality segments, ITC Resorts has a portfolio of resorts by means of six manufacturers – together with ITC Resorts and Mementos within the luxurious area, Welcomhotel in higher upscale, Storii in boutique premium experiential section, Fortune in midscale and WelcomHeritage in heritage leisure.
Presently, the corporate operates over 140 properties with over 13,000 keys in over 90 places. It plans to broaden its portfolio to over 200 resorts with over 18,000 keys over the following 5 years, with roughly two-thirds salience of managed properties.
The hospitality main launched 30 resorts inside 24 months just lately (as on December 31, 2024), and has a sturdy goal of including no less than one lodge a month on common over the following 24 months.
The Kolkata bench of the Nationwide Firm Regulation Tribunal (NCLT) on October 4, 2024, sanctioned the scheme of association amongst ITC Ltd and ITC Resorts Ltd.
