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ITC on Monday raised its holding in EIH by acquiring an additional one per cent stake for Rs 42 crore through open market transactions.
ITC acquired 57.38 lakh shares in EIH through its subsidiary Russel Credit. The shares were purchased at 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 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) Ltd as on June quarter, offloaded its entire stake for Rs 42 crore, BSE data showed.
HSBC has garnered an estimated Rs 2,800 crore through sale of shares in Yes Bank, Axis Bank and Federal Bank.
The sale was part of a global exercise to shore up the entity’s capital by liquidating non-strategic holdings.
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