Monica Malik Instagram – ITC Ltd announced the much-awaited demerger of its hotels business on July 24 under a scheme of arrangement.
After the split, the consumer goods company will continue to hold a 40 percent stake in it and the rest will be distributed among existing shareholders proportionate to their stake in ITC.
However, market participants were hoping for a better split mirroring the shareholding pattern and it came as a negative surprise for market participants.
The new scheme of arrangement will be considered at a board meeting on August 14. ITC said in a statement that separating the hotels business will help attract investors and partners who are interested in the hospitality industry and have similar goals and risks.
#itc #business #news #stockmarket #shares #earnmoney #investing #trading #investingforbeginners #itchapter2 #itcfamily #reels #exploremore #hotels #demerger | Posted on 26/Jul/2023 20:36:41
