ITC Ltd on December 18 said January 6 has been fixed as record date for determining shareholders amid demerger of hotel business.
ITC had announced January 1 as effective date for hotel business demerger.
"...the Company and ITC Hotels Limited (ITCHL) have mutually agreed to fix Monday, 6th 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 in accordance with Clause 18 of the Scheme of Arrangement amongst ITC Limited and ITC Hotels Limited," said ITC in a stock exchange filing.
At 1:05 pm on December 18, ITC shares were trading nearly flat at Rs 469.65 apiece.
In June this year, the company shareholders approved demerger of the conglomerate's hotel business. Around 99.6 percent shareholders voted in favour of demerger, while just 0.4 percent voted against it.
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