British American Tobacco trims ITC stake by 2.5% in Rs 12,941 crore deal to boost financial flexibility

British American Tobacco Plc divested a 2.5% stake in ITC Ltd for Rs 12,941 crore, reducing its shareholding to 22.94%. The sale, executed through open market transactions, aims to enhance BAT’s financial flexibility for transformation investments and shareholder returns. Proceeds will extend the share buyback program by £200 million, signaling continued confidence in ITC’s strategic value.