HCL Capital Pvt., Nippon India Mutual Fund, Vanguard Group, and Abu Dhabi Investment Authority are among the large institutions that acquired ITC Hotels Ltd. shares via large transactions on Friday.
British American Tobacco Plc., via affiliates Tobacco Manufacturers (India) Ltd., Myddleton Investment Co. and Rothmans International Enterprises Ltd., sold shares worth Rs 3,856 crore, according to block deal data on the NSE. The shares were offloaded at Rs 205.65 apiece.
The UK company's direct shareholding of 15.3% in ITC Hotels was a result of the demerger process that was completed by ITC Ltd. earlier this year.
A direct stake in ITC Hotels is not a strategic holding for BAT, CEO Tadeu Marroco had said, adding that the proceeds from this transaction will further support continued progress towards their stated 2026 deleveraging plan.
HCL Capital purchased equity worth nearly Rs 3,000 crore. Nippon India MF acquired shares worth Rs 530 crore and Vanguard Group bought Rs 166 crore.
GQG Partners, which held 2.11% stake in ITC Hotels as of September, added shares worth Rs 70 crore.
Multinational investment firms Morgan Stanley, Societe Generale and BNP Paribas were the other buyers in the block deal.
Shares of ITC Hotels settled 1% lower at Rs 205.91 on the NSE, compared to a 0.6% rise in the benchmark Nifty 50. Intraday, the stock went as high as Rs 211.99. At the end of trade, the delivery ratio was 45%.
The stock has risen nearly 20% since listing in January. The total market cap stands at Rs 42,832 crore.
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