(Reuters) – Shares of ITC Hotels fell 2.7% in debut trade on Wednesday, following its demerger from consumer goods firm ITC.
The stock slipped to 175 rupees on the National Stock Exchange, compared to a discovered price of 180 rupees determined during a pre-open trading session.
ITC had in July 2023 decided to spin off its hotel business into a separately listed firm to focus on its core cigarettes and food business.
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Varun H K)
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