British American Tobacco will offload 7-15.3% of its stake in ITC Hotels via an accelerated book-build. The sale, priced around ₹2,005 per share, is aimed at reducing BAT's debt and meeting its 2026 leverage goals. BAT earlier sold 2.5% in May 2025 for ₹12,941 crore. ITC Hotels has been listed since January 2025 after its demerger from ITC.