India Tourism Development Corporation has issued a clarification to stock exchanges regarding news reports about its disinvestment process, confirming the ongoing nature of asset disposal activities that began in 2016.

Ongoing Disinvestment Process Since 2016

The company clarified that hotel units of ITDC and its joint venture subsidiary units have been under disinvestment process since 2016. The clarification was issued in response to queries from stock exchanges dated April 10, 2026, regarding news items appearing on financial media platforms.

Regulatory Disclosures and Transparency

ITDC emphasized its commitment to transparency through regular disclosures under Regulation 30 of SEBI (LODR) Regulations. The company stated that major developments pertaining to the ongoing disinvestment process are disclosed immediately, with regular updates provided through annual reports and quarterly financial results.

The company confirmed there are no updates beyond the disclosures given to stock exchanges on February 09, 2026, in the notes to quarterly and nine months ending unaudited financial results for December 31, 2026.

Government's NMP 2.0 Announcement

A significant development mentioned in the clarification relates to the Union Finance Minister's Budget Speech for financial year 2026-27. The budget announced the National Monetisation Pipeline (NMP) 2.0, which specifically mentions ITDC hotels as part of a redevelopment plan through Public-Private Partnership (PPP) mode.

However, ITDC clarified that it has not received any specific directions from the government regarding this announcement.

Historical Disinvestment Activities

The attached documents reveal an extensive history of disinvestment activities spanning multiple properties and transactions. Key completed transactions include:

• Hotel Jaipur Ashok: Transferred to Rajasthan Government for Rs. 14.00 crore in September 2017
• Hotel Patliputra Ashok: Transferred to Bihar Government for Rs. 13.005 crore in November 2018
• Hotel Jammu Ashok: MoU signed for transfer to J&K Government for Rs. 11,09,75,370 in February 2023
• Lalitha Mahal Palace Hotel: Transferred to Karnataka Government in September 2017
• Hotel Janpath: Land transferred to Ministry of Housing and Urban Affairs in October 2017

Current Status and Market Communication

The clarification serves to address market speculation and ensure accurate information flow to investors. ITDC's response demonstrates its adherence to regulatory requirements while managing the complex, multi-year disinvestment process involving various state governments and central ministries.

The company's systematic approach to asset disposal, combined with transparent reporting mechanisms, reflects its commitment to maintaining investor confidence during the ongoing restructuring process.

India Tourism Development Corporation Ltd has completed its regulatory filing requirements by submitting the mandatory compliance certificate under SEBI Regulation 74(5) for the quarter and financial year ended March 31, 2026. The submission was made to both the National Stock Exchange of India Limited and BSE Limited on April 7, 2026.

Regulatory Compliance Certificate

The certificate was issued by KFin Technologies Limited, which serves as the Registrar and Share Transfer Agent for ITDC. S R Ramesh, Deputy Vice President at KFin Technologies Limited, signed the certification documents confirming compliance with SEBI requirements.

Certificate Confirmation

KFin Technologies Limited certified that all details of securities dematerialized and rematerialized during the specified period have been furnished to stock exchanges where ITDC shares are listed. This certification ensures compliance with SEBI (Depositories and Participants) Regulations 2018.

The certificate was simultaneously submitted to both major depositories:

• National Securities Depository Limited (NSDL)
• Central Depository Services (India) Limited (CDSL)

Company Secretary Filing

VK Jain, Company Secretary of ITDC, executed the regulatory filing with digital signature authentication on April 7, 2026. The submission included copies of certificates from both depositories, ensuring comprehensive regulatory compliance.

Regulatory Framework

SEBI Regulation 74(5) mandates that companies maintain transparency regarding dematerialization and rematerialization activities of their securities. This quarterly certification process ensures that all share transfer activities are properly documented and reported to relevant stock exchanges and depositories.

The compliance filing reinforces ITDC's commitment to maintaining regulatory standards and transparency in its share transfer operations, providing stakeholders with assurance regarding proper handling of securities transactions.