ITC Limited — Important, 17-12-2024: General Updates

The company announces that it has received approval from the National Company Law Tribunal for the demerger of its Hotels Business into a separate entity, ITC Hotels Limited. All necessary conditions of the Scheme of Arrangement have been satisfied, including official filings. The demerger will be effective from 1st January 2025. This strategic move is expected to streamline operations and unlock value by allowing each entity to focus on its core business. Investors should monitor the potential impacts on both businesses, as this restructuring could present new opportunities and enhance operational efficiency moving forward.