BAT sells ₹12,100-crore stake in ITC via block deal

British American Tobacco (BAT), via its wholly-owned subsidiary Tobacco Manufacturers (India), offloaded a 2.5% stake in ITC worth ₹12,926.90 crore through a block deal. The deal involved 31.3 crore shares traded at ₹413 apiece, a 4.8% discount from previous close. Despite the sale, BAT remains ITC's largest shareholder with a 23.1% holding and plans to increase its share buyback program.