By Hritam Mukherjee (Reuters) -Shares of ITC Hotels fell in debut trade on Wednesday, following its spin-off from consumer goods firm ITC, valuing the luxury hotels operator at 366.2 billion rupees ($4.

ITC Hotels Ltd, the newly demerged hotels business from ITC Ltd, saw its shares slip up to 5% on its stock exchange debut. The stock's initial price was Rs 188 on BSE and Rs 180 on NSE. ITC retains a 40% stake,

ITC will continue to hold 40 per cent of ITC Hotels, while the remaining 60 per cent was distributed among the shareholders whose name appeared on the books of ITC Ltd on January 6, the day the demerg

Shares of ITC Hotels fell 2.7% in debut trade on Wednesday, following its demerger from consumer goods firm ITC .

Notably, the listing price is slightly higher than Nuvama's estimate, which expected the shares to be listed at a range of ₹150-175 per share