British American Tobacco (BAT) has sold a 3.5% stake in ITC. The stake has been sold in a block deal. BAT has realised a total of Rs 17,491 crore from the sale. The transaction has taken place @ Rs 400/ share which is similar to the prevailing market price. Post this stake sale, BAT’s shareholding … Read more
British American Tobacco (BAT) is the largest shareholder in ITC holding 29.03% stake. It has informed that it is looking to reduce it’s stake as part of the Capital reallocation strategy. “We continue to pursue all opportunities to enhance balance sheet flexibility and, as part of this, we regularly review our stake in ITC. We … Read more
The Company has announced – Up to 1,25,00,000 (One crore twenty five lakhs) fully convertible equity warrants convertible into equivalent number of Equity Shares of the Company having face value of Rs. 10/- each, at a Premium of Rs 35/- per Warrant, aggregating up to Rs. 56.25 cr 25% of the consideration shall be payable … Read more
It was long awaited and finally ITC‘s board has taken the decision to demerge the hotels business into a new entity. Name of the new entity is proposed to be “ITC Hotels Limited (IHL)” In such kind of demergers, normally existing shareholding of the main Company gets replicated in the new entity i.e., 1:1 share … Read more
Chalet has an under construction property at Terminal 3 of the Delhi Airport. It is scheduled to be commissioned by FY 26 The property is planned to have 400 rooms The Company has now signed up with Indian Hotels for franchise of the marquee ‘Taj’ brand for this property. Without doubt this is one of … Read more
Radisson Hotel Group on Wednesday announced the entry of its luxury lifestyle brand “Radisson Collection” in India with the signing of the first hotel in Hyderabad. The 300-room hotel is close to the city’s financial district, which houses business centres, IT parks and Special Economic Zones (SEZs). The hotel would be operational by the second … Read more