British American Tobacco (BAT) has divested more than half of its stake in ITC Hotels for approximately 38 billion rupees ($424.70 million), the company announced on Friday.
BAT’s initial holding was 15.3%, which it aimed to reduce in order to decrease debt and exit what it considered a non-strategic asset. Following the sale of a 9% stake, BAT now retains a 6.3% ownership in the hotel chain.
Prior to this transaction, BAT was the second-largest shareholder in ITC Hotels, as per LSEG data. The company’s stake was acquired when ITC Ltd spun off its hotels division in January, as part of a corporate restructuring.
The sale involved 187.5 million shares of ITC Hotels and was executed through an accelerated bookbuild process. Following the announcement, shares of the India-listed ITC Hotels experienced a decline of 1% on Friday.
Published on December 5, 2025.
