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ITC hikes stake in EIH, buys 57.4 lakh shares for Rs 42 crore
Diversified business firm ITC on Monday raised its holding in hospitality company EIH by acquiring an additional one per cent stake for Rs 42 crore through open market transactions.
According to bulk data available with the stock exchanges, ITC acquired 57.38 lakh shares in EIH through its subsidiary Russel Credit. The shares were purchased on an average price of Rs 73 apiece taking the deal size to Rs 41.89 crore.
At the end of June quarter, ITC held 14.98 per cent stake in EIH, while promoter entities and Mukesh Ambani group firm Reliance Industries Investment and Holding held 35.23 per cent and 18.53 per cent stake respectively.
Meanwhile, global banking major HSBC offloaded its entire holding of one per cent in EIH, after having recently exited from three lenders -- Axis Bank, Yes Bank and Federal Bank.
HSBC, which held 57.44 lakh shares, or one per cent stake in EIH through HSBC Bank (Mauritius) as on June quarter, offloaded its entire stake for Rs 42 crore, BSE data showed.
Diversified business firm ITC on Monday raised its holding in hospitality company EIH by acquiring an additional one per cent stake for Rs 42 crore through open market transactions.
According to bulk data available with the stock exchanges, ITC acquired 57.38 lakh shares in EIH through its subsidiary Russel Credit. The shares were purchased on an average price of Rs 73 apiece taking the deal size to Rs 41.89 crore.
At the end of June quarter, ITC held 14.98 per cent stake in EIH, while promoter entities and Mukesh Ambani group firm Reliance Industries Investment and Holding held 35.23 per cent and 18.53 per cent stake respectively.
Meanwhile, global banking major HSBC offloaded its entire holding of one per cent in EIH, after having recently exited from three lenders -- Axis Bank, Yes Bank and Federal Bank.
HSBC, which held 57.44 lakh shares, or one per cent stake in EIH through HSBC Bank (Mauritius) as on June quarter, offloaded its entire stake for Rs 42 crore, BSE data showed.
