ITC (ITC Limited) has made a significant announcement regarding the demereraization of its hotel business. The company has stated that the demerger of its hotel business, ITC Hotels (ITC-Hotels), will take place on March 18, 2023. This move marks a significant development in ITC’s strategy to unlock value for its shareholders. The demerger is expected to separate ITC’s hotel business from its other operations, such as food and beverages, personal care, and paper and stationery products.
The demerger is expected to provide greater clarity on the company’s growth prospects and enable investors to make more informed decisions. ITC-Hotels will continue to operate as a separate entity, with a focus on expanding its hotel chain and improving operational efficiency. The company has announced that it will furnish the necessary information and information memorandum to the shareholders in the coming weeks. This is a significant development for ITC and its stakeholders, and we will continue to follow the story with interest.