ITC Hotels shares to debut on stock exchanges today, listing price expected between Rs 140-175
ITC shareholders, shares of ITC Hotels would list on stock exchanges on Wednesday morning with brokerages expecting that the new stock could list between Rs 140-175 per share.
«Comparable peers, Indian Hotels and EIH Ltd are currently trading at an FY26E EV/EBITDA multiple of 31.0x and 21.2x, respectively. Using an FY26E EBITDA estimate of Rs 1,458 crore, we anticipate ITCHL's listing to occur at an EV/EBITDA multiple of 20.0x-25.0x, implying a market capitalization range of Rs 29,163 crore to 36,454 crore. This would result in a potential listing price in the range of Rs 140-175 per share,» Deven Choksey said.
Domestic brokerage firm Nuvama also expects a similar listing price range of Rs 150-175.
The demerger of ITC's hotel business came into effect on January 1, paving the way for the standalone listing of ITC Hotels.
For ITC shareholders, the total cost of acquisition of 100 shares of ITC Hotels comes to Rs 54,040.
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