STOCKWATCH

ITC LTD. Fixes Record Date for Hotels Business Demerger

ITC LTD. and ITC Hotels Limited (ITCHL) have agreed to fix Monday, 6 January, 2025 as the Record Date for the purposes of determining the shareholders of the Company to whom equity shares of ITCHL would be allotted. This is in accordance with Clause 18 of the Scheme of Arrangement under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.

• ITC LTD. and ITC Hotels Limited have agreed to a Record Date for the demerger of the Hotels Business.
• The Record Date is set for Monday, 6 January, 2025.
• The demerger is in accordance with Clause 18 of the Scheme of Arrangement under the Companies Act, 2013.
• The Record Date determination is for shareholders to whom equity shares of ITCHL would be allotted.
• The agreement is mutually agreed upon by both parties.