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Bloomberg Quint
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ITC Block Deal: British American Tobacco Sells Rs 12,100-Crore Stake
- British American Tobacco has sold 2.5% stake in ITC Ltd. for Rs 12,100 crore through a block deal.
- After the stake sale, BAT's holding in ITC slips to 17.81%.
- The proceeds from the block deal will be used to extend the Group's share buyback program by approximately Rs 2,310.6 crore.
- ITC shares fell by 4.82% to Rs 413 apiece post the block deal announcement, the lowest since April 9.
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