ITC Hotels lists on bourses, shares drop on day oneHowever, it was not a happy first day at the bourses for the scrip. 
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A man walks past the ITC logo.
Credit: Reuters File Photo
Bengaluru: SFollowing the demerger of the hotels business from the tobacco-to-branded food giant - ITC Ltd, earlier this month, the shares of the newly incorporated ITC Hotels Ltd listed on the stock exchanges on Wednesday.
However, it was not a happy first day at the bourses for the scrip. It opened at Rs 188 a share on BSE, but declined 5 per cent to close at Rs 178.60. On NSE too, it saw a 3.53 per cent fall, opening at Rs 180 and closing at Rs 173.65.
The company, in which ITC continues to hold 40 per cent stake, saw its market valuation slip from Rs 39,126 crore to Rs 37,169.7 crore during the day.