ITC Resorts Ltd is ready to develop internationally following its demerger from mother or father firm ITC, with preliminary deal with neighbouring international locations and West Asia, introduced Chairman and Managing Director Sanjiv Puri in a PTI interview. The corporate’s shares are anticipated to listing on NSE and BSE throughout the subsequent few weeks, earlier than mid-February 2025.
Following the demerger scheme, ITC has allotted 125.11 crore fairness shares of ITC Resorts to shareholders, with one share of ITC Resorts given for each 10 ITC shares held as of the January 6 file date.
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Presently working 140 properties with 13,000 rooms throughout India, ITC Resorts goals to develop its portfolio to over 200 inns. The corporate operates by means of six manufacturers: ITC Resorts, Fortune, Mementos, Storii, WelcomHeritage, and Welcomhotel. Of its current properties, 45 per cent are owned instantly whereas 55 per cent are managed by means of contracts.
The abroad growth will observe a managed and franchisee mannequin, constructing on ITC’s current worldwide presence in Sri Lanka and Nepal. When requested about competing with established international gamers, Puri highlighted the corporate’s strengths, together with its fame for internet hosting international dignitaries and its environmental credentials, noting that ITC operates the world’s first 12 LEED licensed net-zero carbon inns.
ITC will retain a 40 per cent stake within the demerged entity, whereas shareholders will personal the remaining 60 per cent.
The shares of ITC have been buying and selling at ₹432, down by ₹5.35 or 1.22 per cent within the NSE at present at 12.10 pm.
