BAT sells 3.5% stake in ITC for Rs 17,485 cr via open market transactions
The shares were sold in 48 tranches, with an average price of Rs 400.25 apiece, taking the transaction value to Rs 17,484.97 crore
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British American Tobacco Plc (BAT), through its affiliate Tobacco Manufacturers (India) Ltd, offloaded more than 43.68 crore equity shares of ITC (Photo: ShutterStock)
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British multinational BAT Plc on Wednesday divested a 3.5 per cent stake in FMCG-to-hotel conglomerate ITC Ltd for Rs 17,485 crore through open market transactions.
British American Tobacco Plc (BAT), through its affiliate Tobacco Manufacturers (India) Ltd, offloaded more than 43.68 crore equity shares of ITC, amounting to 3.5 per cent stake, according to the block deal data available with the BSE.
The shares were sold in 48 tranches, with an average price of Rs 400.25 apiece, taking the transaction value to Rs 17,484.97 crore.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Mar 13 2024 | 7:49 PM IST