British American Tobacco p.l.c. (LSE:BATS) said it will sell around 3.5% of its stake in ITC Limited (NSEI:ITC) to institutional investors in block deals on March 13, 2024. London-based BAT is ITC?s largest shareholder, owning slightly more than 29% in the largest domestic cigarette maker, and will remain so even after the transaction, with around 25.5%. According to the term sheet, the price range for the proposed sale of shares is INR 384-400.25 apiece, which translates to a discount of up to 5% at the lower end of the price band, going by ITC?s closing price on March 12, 2024 on the BSE.
Market Closed -
Other stock markets
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5-day change | 1st Jan Change | ||
440 INR | +0.56% | +3.59% | -4.78% |
Apr. 25 | ITC Opens New Hotel in Sri Lanka | MT |
Apr. 24 | ITC to Hold Meeting of Ordinary Shareholders on June 6 to Approve Scheme | CI |
Stocks mentioned in the article
Price
|
Change
|
5d. change
|
Capi.
| ||
---|---|---|---|---|---|
2,326 GBX | -0.47% | +0.69% | 64.43B | ||
440 INR | +0.56% | +3.59% | 65.87B | ||
EPS Revisions
1st Jan change | Capi. | |
---|---|---|
-4.78% | 65.87B | |
+7.54% | 74.51B | |
+2.30% | 7.29B | |
-6.70% | 5.99B | |
-4.50% | 2.43B | |
-6.03% | 2.27B | |
-29.73% | 1.79B | |
-3.67% | 1.36B | |
-11.55% | 1.17B | |
0.00% | 1.01B |
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- British American Tobacco p.l.c. to Offload 3.5% of ITC on March 13, 2024