ITC Hotels block deals: HCL Capital snaps up Rs 2,998 crore worth shares; ADIA, Morgan Stanley join marquee buyers

Synopsis

HCL Capital Private Limited emerged as an crucial acquirer of British American Tobacco’s (BAT) stake in ITC Accommodations, procuring for 14.58 crore shares for Rs 2,998 crore. A variety of various marquee investors also took foremost stakes within the Rs 3,856 crore block deals. BAT talked about the funds will support its transition to a target leverage fluctuate.

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HCL Capital Private Limited emerged as the largest acquirer of British American Tobacco’s (BAT) stake in ITC Accommodations. The NBFC firm linked with the Shiv Nadar’s HCL Group on Friday offered 14.58 crore shares worth Rs 2,998 crore via a block deal. In separate block deals, marque investors Nippon India Mutual Fund, Societe Generale, Morgan Stanley, Abu Dhabi Funding Authority (ADIA), BNP Paribas and Leading edge Group also took foremost stakes.

The Rs 3,856 crore worth block deals noticed BAT’s wholly-owned subsidiaries, Tobacco Manufacturers (India) Limited, Myddleton Funding Company Limited and Rothmans Global Enterprises Limited selling the issued normal portion capital within the ITC promoted firm. Between them, they offered 18.75 crore shares.

Tobacco Manufacturers India offered 12.34 crore shares at cornering Rs 2,537.17 crore from the stake sale. Myddelton offered 4.86 crore shares for Rs 1,000 crore while Rothmans Global Enterprises offloaded 1.55 crore shares at a del size to the tune of Rs 319 crore.

Important ideas of block deals:

— HCL Capital

HCL Capital, the put Shiv Nadar’s wife Kiran Nadar and daughter Roshni Nadar Malhotra are Non-executive Director and Director & Chairperson, respectively, offered shares at a designate of Rs 205.65 apiece, 1% lower from the Thursday closing designate of Rs 207.72 on the NSE.

— Nippon India MF offered over 2.57 crore shares for Rs 530 crore.

— Societe Generale offered 21.60 lakh shares for Rs 44.42 core.

— Morgan Stanley Asia Singapore Pte offered 9.16 lakh shares for 19 crore.

— BNP Paribas Arbitrage BUYs 42.06 lakh shares at Rs 205.65 apiece=Deal size=86.50 crore

— ADIA offered 6 lakh shares at Rs 12.34 crore.

— Leading edge Group purchased 80.67 lakh shares at Rs 166 crore.

BAT had introduced the block deal on Thursday. It talked about that the funds raised will abet the firm transition to its target leverage fluctuate of two–2.5x adjusted win debt/adjusted EBITDA (ex-Canada) by cease-2026.

Commenting on the vogue, BAT’s Chief Govt Tadeu Marroco talked about that firm’s notify shareholding in ITC Accommodations used to be a results of the demerger direction of that used to be carried out by ITC earlier this three hundred and sixty five days. “As previously stated, a direct stake in ITC Hotels is not a strategic holding for BAT, therefore, I am pleased that the proceeds from this transaction will further support continued progress towards our stated 2026 leverage corridor,” he added.

Established in 1975, the business of ITC Hotels has grown to encompass over 140 hotels across 90+ destinations in the Indian subcontinent.

Following a demerger from ITC Limited, ITC Hotels has been trading as a publicly listed entity since January 2025. As a result of its shareholding in ITC at the time of the demerger, BAT holds approximately 15.3% shareholding in ITC Hotels.

The shares were listed on January 29, 2025 on the BSE at Rs 188 and at Rs 180 on NSE at a market capitalisation of about Rs 39,000 crore. The listing price was lower than what the Street had given earlier on January 6 during a special price-discovery session in which the stock was assigned a value of around Rs 260 on Nifty and about Rs 270 on BSE indices.

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