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Home Business

ITC Share Price Updates, ITC discovered price at Rs.455.6

ITC Hotels will be maintained in all the NSE and BSE indices at a constant price for the listing day, and three business days following the listing.

PC Bureau by PC Bureau
6 January 2025
in Business
9
ITC Share Price Updates, ITC discovered price at Rs.455.6

ITC Share Price Updates, ITC discovered price at Rs.455.6

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ITC Ltd shares price was discovered at Rs. 455 each, down 5.6 percent or Rs. 27 from the previous session’s closing price, following the special pre-open session for price discovery, as the hotels arm spins off from cigarettes-to-FMCG Conglomerate.

Photo Credit: Google
Photo Credit: Google

ITC Hotels will be maintained in all the NSE and BSE indices at a constant price for the listing day, and three business days following the listing. If the stock hits circuit limits, the exclusion will be postponed by two trading days each time.

However, traders and investors will not be able to trade this dummy version of ITC Hotels after the special pre-open session. Trading can begin in the counter only once the scrip officially lists on the exchanges.

Under the scheme of demerger, shareholders will get one equity share of ITC Hotels for every 10 shares of ITC held, with ITC keeping a 40 percent stake in the newly demerged entity. The rest of the 60 percent will be held by existing shareholders proportionate to their stake in ITC.

Also Read: Health Ministry Confirms, HMPV Cases Confirmed In Karnataka!

According to Nuvama, the initial market price for ITC Hotels shares could have ranged between Rs. 150-175 per share. ITC’s

hotel business could attract premium valuation post listing vis-à-vis its current valuation under ITC, led by better price discovery in the market, said Sharekhan. The brokerage believed that the price discovery for ITC Hotels shares could be the range of Rs 150-170 per share.

Japanese brokerage Nomura believed that ITC Hotels would list within the Rs 200–300 per share range, which surpasses most estimates. As a result, the market-cap for the player could be between Rs 42,500 crore to Rs 62,200 crore, added the brokerage.

ITC’s share price was expected to be adjusted by Rs 22-25, reflecting its 40 percent stake in the hotel business and incorporating a 20 percent holding discount, as per Nuvama.
Tags: ITCShare Market
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