ITC has received approval from the National Company Law Tribunal to spin off its hotel division, with the decision finalized last Friday. The implementation is expected to occur soon, involving the West Bengal Registrar of Companies. Originally announced in August 2023, the spin-off will allocate 60% of the hotel business to ITC shareholders, with the remaining 40% retained by ITC. Shareholders had previously approved the spin-off of the restaurant division last June, and this has also received government and Competition Commission of India approval. ITC aims to streamline operations in the fast-growing hotel sector. Following the announcement, ITC shares fell by 1.56%, trading at Rs 504.75.