ITC Hotels shares excluded from 30-pack Sensex, other BSE indices today

ITC Hotels was listed at Rs 180 per share on NSE and Rs 188 on the BSE on January 29.

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ITC Hotels Ltd. has been excluded from the 30-pack BSE Sensex, along with 22 other BSE indices, on February 5, before trading for the day kicked off on February 5, 2025.

“As ITC Hotels did not hit the lower circuit till the cut-off time, the company will be dropped from all BSE indices effective prior to the open of trading on Wednesday,” said Asia's oldest bourse in a release.

ITC Hotels was temporarily included in the NSE Nifty 50 and BSE Sensex so that passive investors could effectively rebalance their respective portfolios. Index funds offloaded shares worth over Rs 400 crore following its exclusion from the Sensex, with an additional Rs 700 crore in selling anticipated upon its removal from the NSE Nifty.

At 9.40 am, shares of ITC Hotels were trading at Rs 165.9 on the NSE, higher by 1.3 percent compared to the previous session's closing price.

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Shares of ITC Hotels listed at a discovery price of Rs 180 per share on NSE and Rs 188 on the BSE on January 29. The IPO-less listing on the NSE marked a discount of nearly 31 percent from its implied price of Rs 260 per share. This comes after the demerger of the firm from its parent organization ITC.

Last year, ITC had decided to demerge its Hotel business into a separate listed entity to unlock value for shareholders. It had fixed the demerger ratio at 1:10, which meant that shareholders holding 10 shares of ITC, as of January 6, 2025, would receive one share of ITC Hotels post the demerger.

Further, under the scheme of demerger, ITC Hotels issued equity shares directly to the shareholders of ITC in a manner that about 60 per cent stake is held directly by ITC shareholders proportionate to their shareholding in ITC and the remaining about 40 percent stake to continue with ITC.

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