At a shareholders meeting convened for the necessary approval for the proposed demerger of ITC's hotels business into ITC Hotels, Mr Sanjiv Puri, ITC Chairman said, "ITC Hotels will have a strong debt-free balance sheet with a net worth of nearly ₹10,000 crore, which it can leverage to raise capital from the debt and/or equity markets going forward should such a need arise."

He added that ITC Hotels - which operates over 135 properties in over 80 locations - will continue to leverage several institutional strengths of ITC, including its corporate brand reputation, globally acclaimed sustainability credentials, high quality talent pool, digital capabilities, robust governance, systems and processes, sourcing of quality products, etc.

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