Tag: ITC board

The ITC board has approved the demerger of the hotels business into ITC Hotels Ltd. Under the demerger, ITC shareholders will directly own 60 per cent of the new company and the balance 40 per cent indirectly through ITC.The company also announced a share entitlement ratio of 1:10; which means that for every 10 shares of ITC owned by a shareholder, he/she will be get 1 share of the new company. Although the ratio has no implication on ownership or overall market capitalisation of ITC Hotels, this is...