Particle.news
Download on the App Store
20 ARTICLES
·
3w ago

BAT Trims ITC Stake to 22.9% in Rs 12,927 Crore Block Deal

Proceeds will boost BAT’s share buyback programme by £200 million to enhance shareholder returns

Image
Block deal: ITC share drops 5%; BAT likely seller, stock turnover hits Rs 16K crore
ITC share price today | Image: Republic
Image

Overview

  • British American Tobacco sold 31.3 crore ITC shares at Rs 413 apiece, raising Rs 12,927 crore through a block deal on May 28, 2025.
  • The divestment cut BAT’s holding in ITC to 22.94% from 25.44%, dropping its stake below the 25% veto threshold in shareholder resolutions.
  • ITC’s share price dipped over 1% after the deal, reflecting the 4.8% discount to the previous closing price of Rs 433.90.
  • Goldman Sachs and Citigroup served as placement agents for the transaction, marking BAT’s second major ITC divestment within a year.
  • BAT will allocate net proceeds to extend its existing 2025 share buyback programme by an extra £200 million, reinforcing its financial flexibility and commitment to shareholder returns.