The stock may have plunged more than 30% on listing, but beneath the volatility lies a powerhouse with no debt, ₹1,500 crore in cash reserves, and an ambitious expansion plan. Does it have the makings of a shrewd investment?

By Hritam Mukherjee (Reuters) -Shares of ITC Hotels fell in debut trade on Wednesday, following its spin-off from consumer goods firm ITC, valuing the luxury hotels operator at 366.2 billion rupees ($4.

Jefferies expects the ITC Hotels to see outflows related to ETF selling, "Given ITC is part of key indices, ITC Hotels could see outflows to the tune of $190-200 million (based on

"Today, ITC Hotels operates a bouquet of over 140 properties with over 13,000 keys in over 90 locations. It plans to expand its portfolio to over 200 hotels with over 18,000 keys over the next five years, with approximately 2/3rds salience of managed properties," it stated.

The demerger of ITC’s hotel business took place on January 1, 2025, with January 6 serving as the record date. This corporate restructuring separated ITC Hotels from its parent company, ITC Ltd.

Shares of ITC Hotels fell 2.7% in debut trade on Wednesday, following its demerger from consumer goods firm ITC .

ITC Hotels debuts on stock exchanges with plans to expand to over 200 hotels, focusing on sustainability and luxury experiences.

ITC Hotels listing share price live today: ITC Hotels has listed at Rs 188/share. The listing price is in line with popular estimates. ITC had demerged its hotel division at the beginning of January. According to the market participants, the stock may see some selling pressure today.

Notably, the listing price is slightly higher than Nuvama's estimate, which expected the shares to be listed at a range of ₹150-175 per share