Share Price: A pre-opening trading session took place today in the stock market to determine the share price of ITC Hotels. By the conclusion of this session, shares of ITC Limited, the parent company of ITC Hotels, were priced at Rs 26 on the National Stock Exchange (NSE) and Rs 27 on the Bombay Stock Exchange (BSE).
The share price of ITC was adjusted to Rs 455.6
This special trading session for ITC Limited shares was conducted from 9 am to 10 am by both exchanges. The share price of ITC Hotels on Monday will be established based on the difference between the closing price of ITC Limited shares on January 3 and the opening price during the special pre-open session. Following the commencement of trading in the equity and F&O segments for ITC at 10 am today, the share price of ITC was adjusted to Rs 455.6 on the NSE (a decrease of Rs 26) and Rs 455 on the BSE (a decrease of Rs 27) after the balance price was determined in the call auction session.
The company plans to issue one share of ITC Hotels to shareholders for every ten shares of ITC they hold, provided their names are recorded in the company’s register by Monday. Consequently, investors who purchased ITC shares on the last trading day of the previous week, which was Friday, will be eligible for this benefit.
Under the demerger plan, ITC will maintain a 40 percent stake in ITC Hotels, while the remaining 60 percent will be allocated to existing shareholders. It is important to note that the date for the listing of ITC Hotels shares has yet to be announced, but market analysts anticipate that it may occur in mid-February.
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