ITC Hotels is about to start trading on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Wednesday, January 29, 2025! Here are 10 important things shareholders should know:
1. Expected Listing Price: People think ITC Hotels will sell for between ₹113 and ₹170 per share when it first opens.
2. Brokerage Opinions: Different experts have different guesses – Nuvama thinks it could be around ₹200 per share, while Nomura believes it might range between ₹200 and ₹300. SBI Securities agrees with the previous expected price range.
3. When to Watch: ITC Hotels will start trading on the BSE and NSE at 9:15 AM on January 29, 2025.
4. Part of Major Indices: ITC Hotels will be included in the Sensex and Nifty for 3 trading days. This could change if its stock hits certain limits.
5. Becoming Independent: ITC Hotels separated from its parent company, ITC, on January 1, 2025. ITC still owns 40% of ITC Hotels, while the other 60% is shared by current ITC shareholders.
6. Price Changes: On January 6, there was a special session to adjust ITC shares. The price dropped by ₹26 on the NSE and ₹27 on the BSE.
7. Share Allotment: ITC gave out 125.11 crore shares of ITC Hotels to its shareholders on January 11.
8. How Shares Were Distributed: Shareholders got 1 share of ITC Hotels for every 10 shares of ITC they owned as of January 6. These shares will soon be tradable!
9. Effect of the Split: After the split, ITC shareholders now own parts of two companies, which changes the value of ITC on the market.
10. Cost Breakdown for Shareholders: If you own 1,000 ITC shares that you bought for ₹400 each, your total cost is ₹4,00,000. After the split, 86.49% (₹3,45,960) goes to ITC shares and 13.51% (₹54,040) to ITC Hotels shares
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