The USA based investment management company - GQG Partners has divested 2.91% stake in ITC through open market deals worth around Rs 9,395.44 crore. GQG Partners through its fund -- GQG Partners Emerging Markets Equity FD A Series Of GQG Partners Series has offloaded around 36.51 crore shares of the company at an average price of Rs 257.35 a piece.
Meanwhile, a clutch of domestic and foreign institutional investors acquired an equal number of shares at the same price.
ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agribusiness, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
