'A bold step forward': ITC Hotels would target global hospitality crown, says boss Sanjiv Puri

ITC Hotels, the demerged entity of ITC, was listed on the stock exchanges today, with shares debuting at ₹188 on the BSE and ₹180 on the NSE. The pure-play hospitality company began trading with a zero-debt balance sheet and ₹1,500 crore in cash reserves to support its growth strategy and contingency needs.  

“The listing of ITC Hotels marks not just a new chapter for the ITC Group’s hospitality business, but a bold step forward in our commitment to creating enduring value for all stakeholders,” Sanjiv Puri stated during the listing ceremony at the NSE.  

“As ITC Hotels embarks on this journey, it is committed to setting new global benchmarks in hospitality while staying rooted in sustainability and inclusivity. The future promises exciting opportunities to expand, innovate, and redefine luxury experiences,” he added.  

After three weeks as a dummy stock following its demerger from parent company ITC Ltd, ITC Hotels commenced trading today. Shares opened at ₹188 on the BSE, down 30.3% from the last discovered price of ₹270 in a special pre-open session on January 6, 2025. On the NSE, the stock debuted at ₹180, down from ₹260.  

Post-listing, ITC Hotels’ share price hit the 5% lower circuit at ₹178.60 on the BSE and ₹171 on the NSE, reducing its market capitalization to ₹37,170 crore. Meanwhile, ITC’s shares dipped 1.1% to ₹430.20 on the BSE after opening flat at ₹435.  

Anil Chadha, Managing Director of ITC Hotels, emphasized at the NSE event, “Today marks a historic moment as we reinforce our commitment to building one of India’s finest hospitality chains, poised to redefine the industry’s future.”  

“As an independent, agile entity, ITC Hotels aims to become a global leader in Indian hospitality, driven by customer-centricity, high performance, and sustainability,” he added.  

The demerger, effective January 1, 2025, grants shareholders one ITC Hotels share for every 10 ITC shares held. ITC retains a 40% stake in the new entity, while British American Tobacco (BAT), holding a 25% stake in ITC, is expected to secure 15% in the hotels business. Remaining shares will be distributed proportionally among existing shareholders.  

The listing precedes ITC’s Q3 2025 earnings report on February 6, its first since the demerger. The board will also consider declaring an interim dividend for FY2025.  

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