On Thursday, BAT said it has been "actively working for some time" to sell a part of its stake in ITC. BAT holds a slightly over 29% stake in the Indian conglomerate spanning tobacco-to-hotels. Earlier indications from BAT suggest its intention to maintain up to a 25% shareholding in ITC to retain strategic influence, including veto rights. A 4% stake sale would be valued around ₹21,000 crore at the current market price.