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GQG Partners, a US-based investment firm backed by NRI investor Rajiv Jain, reduced its stake in ITC Hotels through an open market transaction in the past week. The firm sold around 1.29 crore shares, representing a 0.62 per cent stake, for approximately INR 197 crore. Following the deal, its holding declined to 1.35 per cent from 1.97 per cent. The buyers were not disclosed. The transaction comes amid active institutional participation in hospitality stocks, with ITC Hotels witnessing steady market interest and a rise in share price during the same trading session.
US-based investment firm GQG Partners has reduced its stake in ITC Hotels by selling nearly 1.29 crore shares through an open market transaction in the past week. The deal was valued at around INR 197 crore, according to bulk deal data available on the National Stock Exchange (NSE). Advertisement
The sale was executed by GQG Partners Emerging Markets Equity Fund, an affiliate of the Rajiv Jain-backed firm. The fund offloaded 1,28,87,559 shares, representing a 0.62 per cent stake in ITC Hotels. The shares were sold at an average price of INR 152.67 per share, taking the total transaction value to INR 196.75 crore.
Following this transaction, GQG Partners stake in ITC Hotels has come down to 1.35 per cent from its earlier holding of 1.97 per cent. The identity of the buyers in the transaction was not disclosed on the exchange.
Market activity in ITC Hotels remained positive during the session, with the company's shares closing higher. The stock gained 3.90 per cent to settle at INR 152.50 per share on the NSE.
The stake sale comes at a time when institutional investors have been actively rebalancing their portfolios in the hospitality sector. ITC Hotels, which has been part of the broader ITC Group's hospitality business, has been attracting investor attention amid improving travel demand and steady operational performance across key markets.
GQG Partners has been a notable investor in Indian equities, with exposure across multiple sectors including financial services, infrastructure and consumer-driven businesses. The latest transaction reflects a partial exit strategy rather than a complete withdrawal, indicating continued but reduced exposure to the hospitality segment.
Source PTI
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