Key Highlights
- will be in focus on Friday, as British American Tobacco Plc.
- is set to offload shares worth nearly Rs 3,000 crore in ITC Hotels Ltd.
- via large deals.
- The company will sell shares at a floor price of Rs 205.65 in the secondary market, according to a termsheet. BAT affiliates Tobacco Manufacturers (India) Ltd., Myddleton Investment Co.
- and Rothmans International Enterprises Ltd., intend to sell between 7% and 15.3% of the share capital in ITC Hotels to investors by way of an accelerated bookbuild process, the company said in a regulatory filing. The final number of shares sold will be determined to optimise the overall pricing outcome to the Group, the filing said. 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.
