An ITC hotel. (Source: Company) Show Quick Read Summary is AI Generated. Newsroom Reviewed

British American Tobacco Plc. will offload shares worth nearly Rs 3,000 crore in ITC Hotels Ltd. via large deals on Friday. 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 H

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