ITC has incorporated a wholly owned subsidiary (WOS) in the name of ‘ITC Hotels’. The company has incorporated WOS on July 28, 2023.
Earlier, the company had received in-principle approval from the Board for the demerger of Hotels Business under a scheme of arrangement, with the Company holding a stake of about 40% in the new entity and the balance shareholding of about 60% to be held directly by the company’s shareholders proportionate to their shareholding in the Company.
ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agribusiness, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
