ITC to transfer Rs 1,500 crore to its demerged hotel unit

ITC Ltd will transfer Rs 1500 crore cash to its demerged hotel business, ITC Hotels, for growth and contingencies. ITC Hotels will receive ITC's trademarks under a license agreement. ITC shareholders will hold 100% of ITC Hotels - 60% directly and 40% through their existing ITC shares. The demerger is effective from January 1, 2025, and ITC Hotels shares will be listed within 60 days of the NCLT order.