ITC Hotels shares list at 30% discount, debuting at ₹180 after last year’s demerger

[ad_1]

Jan 29, 2025 11:37 AM IST

Notably, the listing price is slightly higher than Nuvama’s estimate, which expected the shares to be listed at a range of ₹150-175 per share

ITC Hotels Ltd shares got listed at a discovery price of ₹180 per share on the National Stock Exchange on Wednesday, January 29, 2025.

Also 60% of ITC Hotels is still owned by ITC, while 40% was distributed to other shareholders in the aforementioned ratio.(Representational Image/Pixabay)

This is a discount of nearly 31% from its implied price of ₹260 per share and comes after the hotels business demerged from the main parent organisation ITC Ltd, according to a Moneycontrol report.

Also Read: ITC Hotels share price: Demerged hotel biz to list on BSE, NSE today, check details

Meanwhile, the company’s shares got listed at ₹188 per share on the Bombay Stock Exchange (BSE). This was a discount of 30% from the implied price of ₹270 per share.

Notably, the listing price is slightly higher than Nuvama’s estimate, according to the report which added that the brokerage had expected the shares to be listed at a range of ₹150-175 per share.

Also Read: Lenskart plans $1 billion IPO, hiring Kotak Mahindra and Morgan Stanley: Report

ITC Hotels has a market cap of over ₹37,461 crore at the moment, data on the bourses showed.

The demerger of ITC Hotels came with a fixed ratio of 1:10, meaning that as on January 6, 2025, for every 10 shares of ITC Ltd a shareholder owns, they would get one share of ITC Hotels Ltd.

Also 60% of ITC Hotels is still owned by ITC, while 40% was distributed to other shareholders in the aforementioned ratio.

Also Read: New Apple iPhone SE 4 may come with a single rear camera, alleged hands-on video shows

The exchanges had also conducted a special trading session for ITC shares on January 6, 2025 to determine the value via the price discovery method.