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The Competition Commission of India (CCI) has approved the demerger of ITC Ltd's hotel business into a newly incorporated subsidiary, ITC Hotels Ltd. Post-demerger, ITC Hotels will be listed on stock exchanges, with ITC retaining a 40% stake. This move aims for internal restructuring without altering market dynamics.
CCI approves de-merger of ITC LtdLimited hotels business into ITC Hotels Ltd, with shareholder meeting scheduled for June 6.
Fair trade regulator CCI on Tuesday said it has approved the demerger of the hotel business of diversified entity ITC Ltd into a separate entity. After the completion of the demerger, shares of ITC Hotels Ltd, a new entity, will be listed on the stock exchanges. The proposed combination relates to the demerger of the demerged undertaking to ITC's wholly-owned newly incorporated subsidiary, ITC Hotels.