US-based investment firm GQG Partners has increased its stake in ITC Ltd to 5.47% through a bulk deal, following British American Tobacco’s (BAT) partial exit from the company.
Strategic Investment & Market Impact
GQG acquired an additional 0.51% stake in ITC, raising its total holding from 4.96% to 5.47%. The transaction was executed on May 28 and settled on May 29, reinforcing GQG’s confidence in ITC’s long-term growth potential.
BAT, ITC’s largest shareholder, sold 2.5% of its stake for approximately ₹12,900 crore ($1.5 billion) via block deals, reducing its holding from 25.4% to 22.9%. Despite this reduction, BAT remains ITC’s largest shareholder and plans to use the proceeds to expand its share buyback program to £1.1 billion in 2025.
ITC’s Market Position & Future Outlook
ITC, a diversified conglomerate, operates across FMCG, hotels, paperboards, packaging, and agribusiness. The company continues to attract strong institutional interest, with analysts suggesting that GQG’s increased stake could enhance liquidity and strengthen ITC’s positioning among global investors.
With rising institutional confidence and strategic investments, ITC remains a key player in India’s consumer goods and tobacco industry.
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