British American Tobacco has sold a $1.5 billion stake in Indian consumer goods company ITC at 413 Indian rupees per share, according to a term sheet seen by Reuters.

Shares of ITC Hotels fell in debut trade on Wednesday, following its spin-off from consumer goods firm ITC , valuing the luxury hotels operator at 366.2 billion rupees ($4.23 billion).

ITC shares traded at ₹421.20, down 1.14 per cent or ₹4.85 from the previous close of ₹433.90 at 10.30 am, as British American Tobacco (BAT) announced plans to sell a 2.3 per cent stake in ...

Cigarettes, hotels bounce back ITC reported gross revenue of ₹ 69,446 crore in FY24 and a profit of ₹ 20,422 crore. Non-cigarette revenue now accounts for about 65% of net revenue.