ITC Hotels Demerger:

ITC Hotels Demerger:

The Board of approved the scheme of arrangement involving the demerger of its hotels business into a separate subsidiary.

Under the demerger, shareholders of ITC will get 1 share in the demerged hotels business for every 10 shares held in the parent company

ITC shareholders will directly hold about 60% in ITC Hotels in proportion to their stake in the parent company. The remaining 40% stake will continue with ITC.

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