ITC open to demerge hotels business, list IT arm: Sanjiv Puri

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

At the company’s AGM, Puri also said it aims to optimise shareholder value while addressing concerns over underperformance of ITC’s stock price. Shareholders used the AGM to raise the issue of demerger of hotel as well as the listing of ITC Infotech as part of an organisational restructuring.

“We had said last year that we will look at an alternative structure, which we are reiterating this time. We accept that given the situation faced by the hotel industry, it is not the right time to do it.