As part of the demerger plan, ITC has chosen to keep a 40% stake with itself and give the rest to existing shareholders. The share ratio would be finalised by the ITC board at its meeting on August 14. Investors are also expecting that the spin-off of the hotels business is the first step after which other non-cigarette businesses could also be demerged.
ITC commanded a market value of Rs 2,68,633.5 crore, as of December 31, 2021. Retail investors and HNIs together held 13.65 per cent stake in the company then.