ITC's Sanjiv Puri explains why the company will hold 40% stake in ITC Hotels

[Bilgin]

ITC's Sanjiv Puri explains why the company will hold 40% stake in ITC Hotels ITC Ltd plans to retain a 40% stake in its demerged ITC Hotels business, which will have an asset-light model and be debt-free, according to chairman Sanjiv Puri. The new entity will raise capital as needed and benefit from synergies with ITC's foods vertical.