ITC may demerge hotels biz, enlist IT arm

Kolkata: ITC chairman Sanjiv Puri on Wednesday reiterated that it is not ruling out the possibility of restructuring of different businesses, including demerger of hotels and even listing of ITC Infotech, a subsidiary of the FMCG-to-hotel-to-tobacco conglomerate, on the bourses.

Replying to the shareholders at the AGM of the company, Puri also made it clear that whatever it would do would be aimed at optimising shareholders’ value. He shared the concerns of shareholders about the under performance of the price of ITC stock. During the AGM, veteran shareholders like Manoj Gupta and Tamal Mazumdar raised the issue of demerger of hotel as well as listing of ITC Infotech as part of an organisational restructuring.