In additional to Nifty 50 ETFs and MFs, BAT also seems to have plans to sell ITC hotels shares once listed. This selling pressure may impact market cap post listing, but only for short term is what I feel. Based on the data from investor presentation, their long term strategy seems good with respect to setting up new hotels and focus on Portfolio Premiumisation.
BAT to check out of ITC’s demerged hotels business – The Economic Times.
Disc: Invested.
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