Bulk deals: Singapore govt, ICICI Prudential buy stake in ITC after BAT’s stake sale

BAT executed a block deal on March 13 to sell Rs 16,775 crore in the company or equivalent to $2 billion. BAT plans to use the proceeds from the stake sale to buy back its own shares over a period ending in December 2025.

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In ITC, British American Tobacco’s (BAT) subsidiary Tobacco Manufacturers India sold 43.68 crore shares, equivalent to 3.50 percent equity stake in the company at Rs 400.25 per share. Tobacco Manufacturers, which held 23.87 percent stake in ITC til December 2023, sold Rs 8,742.48 crore worth of equity.

BAT executed a block deal on March 13 to sell Rs 16,775 crore in the company or equivalent to $2 billion. BAT plans to use proceeds from the stake sale to buy back its own shares over a period ending in December 2025.

The government of Singapore bought 9.15 crore shares, or 0.73 percent stake, at an average price of Rs 400.25. ICICI Prudential Mutual Fund picked up 59.26 lakh shares, a 0.04 percent stake at Rs 400.25 per share.

Shares of ITC surged 4.49 percent to Rs 422.40 on the BSE on March 13.

In Markolines Pavement Technologies, Quantum Growth Partners LLP picked up 1.06 lakh shares, 0.55 percent stake, at an average price of Rs 139.79. Quantum had bought 96,000 shares in the company on March 11.

Investor Prakash Pai Peraje sold 96,000 shares, 0.50 percent stake at Rs 140 per share. On March 11, he bought 1.16 lakh shares in the company.

Shares of Markolines Pavement Technologies fell 6.5 percent to Rs 131 on the BSE.

In APL Apollo Tubes, New World Fund Inc picked up 27.89 lakh shares, or a one percent stake at an average price of Rs 1601.1. Foreign Portfolio Investor, Principal Global Investors Collective Investment Trust, sold 15.31 lakh shares, equivalent to 0.55 percent stake at an average price of Rs 1,600.16. Principal Global held 1.04 percent stake in the company til December 2023.

APL Apollo Tubes stock fell 6.66 percent to Rs 1,486.5 on the NSE.

In Indian Terrain Fashions, Polaris Banyan Holding acquired further 2.96 lakh shares, 0.66 percent stake at an average price of Rs 78.94. Polaris on March 12, acquired 3.05 lakh shares in the company.

Shares of Indian Terrain Fashions declined 9.13 percent to Rs 70.15 on the NSE.

In Ruchi Infrastructure, Shantiram Kutumbkam Food Services bought 15.52 lakh shares, a 0.70 percent stake at an average price of Rs 10.5. Promoter Patanjali Foods sold 15 lakh shares, equivalent to 0.68 percent stake at Rs 10.5 per share.

Ruchi Infrastructure stock surged 4.98 percent to Rs 11.6 on the NSE.

Goldman Sachs (Singapore) PTE bought 55 lakh shares in South Indian Bank RE at Rs 2.9 per share.