ITC Hotels Ltd. allotted 125.11 crore equity shares to its shareholders in the board meeting held on 11 January 2025. This move has been taken under the restructuring planning between ITC Ltd. and ITC Hotels.

Important points related to the merger

1. Record date: These shares have been allotted to those shareholders who were shareholders of ITC Ltd. as on the record date of 6 January 2025. 2. Restructuring process: The scheme has been done under sections 230 to 232 of the Companies Act, 2013. Under this, ITC Hotels will no longer be a subsidiary of ITC Ltd. , and this change will be effective from 11 January 2025. 3. Share listing: ITC Hotels has announced that the newly allotted shares will be applied for listing. However, these shares will remain frozen until listing and trading permission is granted. 4. Second largest hotel chain: After restructuring, ITC Hotels will become the second largest hotel chain in India. Its portfolio includes 140 hotels and 12,965 rooms. 5. Business of ITC Ltd .: ITC Ltd. has a strong presence in different sectors, such as FMCG, hospitality, paperboard and packaging. Its key brands include Ashirvad, Sunfeast and Classmate. 6. Identity of ITC Hotels: ITC Hotels portfolio includes luxury brands like ITC Grand Bharat and WelcomHotel. These brands are famous for their premium and luxury services. Restructuring strategy This move of ITC is part of its strategy to establish the hotel business as a separate entity, which will give it the opportunity to expand and grow independently in its field.