The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Tobacco Manufacturers (India) Ltd & PACs
ITC · price
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Awaiting price reaction for this filing.
Tobacco Manufacturers (India) Limited (TMIL), part of the British American Tobacco (BAT) group, sold 31.3 crore equity shares of ITC Limited (2.50% of total share capital) through open market on May 28, 2025. Before the sale, TMIL and its PACs (Myddleton Investment Company Ltd and Rothmans International Enterprises Ltd) together held 25.43% (3,18,27,62,693 shares) in ITC. After the sale, their combined holding has come down to 22.93% (2,86,97,62,693 shares). The sale was done solely by TMIL; the PACs' holdings remained unchanged. The disclosure is filed under SEBI's takeover regulations and the filing states the seller does not classify as part of the promoter/promoter group, though market participants widely view BAT entities as ITC's foreign promoter group.
This is a notable 2.50% open-market sale by a major long-term shareholder, which could weigh on the stock in the near term due to supply pressure and negative sentiment, even though ITC's underlying business remains unchanged. Retail investors should monitor whether further tranches are sold, as the combined BAT-group holding has now dropped by 250 basis points in a single transaction.