Archive · 29 May 2025
BAT Sells ITC Stake; ITC Shares Fall 3.1%
British American Tobacco (BAT) sold some of its shares in ITC, an Indian company, as part of a deal.
The sale included 313 million shares and was worth ₹121 billion.
This caused ITC's stock price to drop by 3.1%.
BAT will continue to be the biggest shareholder in ITC, owning about 22.9% of the company.
The money from the sale will help BAT invest in company improvements, reduce debt, and give more money back to its shareholders.
The price per share was set at ₹413.
British American Tobacco (BAT) sold a 2.5% stake in ITC.
The final sale price stood at ₹413 per share.
ITC shares fell 3.1% after the block deal.
BAT's net proceeds from the sale amounted to ₹121 billion.
BAT will remain ITC's largest shareholder with about 22.9%.
- Who
- British American Tobacco (BAT)
- What
- Sold a 2.5% stake in ITC
- When
- May 29, 2024
- Where
- India
- Why
- To increase financial flexibility, invest in transformation, and enhance shareholder returns.
- Seller
- British American Tobacco (BAT)
- Stake Sold
- 2.5%
- Deal Value
- ₹121 billion (₹12,100 crore)
- Price Per Share
- ₹413
- ITC Share Drop
- 3.1%
- BAT's Remaining Stake
- About 22.9%
Sources
ITC's top shareholder BAT to sell 2.3%, eyes up to Rs 12,000 crore
ITC share price falls over 3% today. Here's why and should you buy?
Sensex, Nifty drop in early trade dragged by ITC stake sale reports
ITC shares slip over 5% after BAT's Rs 11,600 crore stake sale plan
ITC shares decline over 3 pc; mkt valuation drops by Rs 17,269 cr
British American Tobacco trims ITC stake by 2.5% in Rs 12,941 crore deal to boost financial flexibility
ITC shares decline over 3%; market valuation drops by ₹17,269 crore
