BAT awaits RBI's nod to divest its entire 15.29% ITC Hotels stake
British American Tobacco (BAT) is waiting for RBI's approval to divest its entire 15.29% stake in ITC Hotels, which it has held since early 1900s. BAT is currently the largest public shareholder in ITC Hotels, while the latter demerged from ITC in January, 2025, and was listed in the same month. The sale would help BAT reduce debt by 2026.