British American Tobacco Raises INR38.2 Billion from Sale of ITC Hotels Stake

02:16 AM EST, 12/05/2025 (MT Newswires) -- British American Tobacco (BATS.L, BTI.JO) said Friday it raised 38.2 billion Indian rupees in net proceeds from the sale of a 9% stake in Indian hospitality company ITC Hotels. The London-listed tobacco company sold 187.5 million ITC Hotels shares via an accelerated bookbuild process. After the transaction, its shareholding in ITC Hotels decreased to 6.3%. British American Tobacco said net proceeds from the sale will support its goal of an adjusted net debt/adjusted EBITDA leverage corridor in the 2 to 2.5x range by the end of 2026.