ITC Ltd demerges its hotel business into ITC Hotels Ltd, aiming for independent growth.

Indian conglomerate ITC Ltd has announced that its hotel business will be demerged into a separate entity, ITC Hotels Ltd, effective January 1, 2025. This follows regulatory approvals and shareholder consent. ITC shareholders will receive 60% of the new entity, with the remaining 40% retained by ITC. The demerger aims to allow the hotel business to grow independently, and it has led to a rise in ITC's share price.