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Business & Stocks Business Standard • Oct 08, 2026

GQG Partners Sells 2.91% Stake in ITC Ltd for ₹9,395 Crore via BSE Block Deal

💡 Key Takeaways

•GQG Partners sold a 2.91% stake in ITC Ltd for ₹9,395.4 crore via a BSE block deal.
•The transaction involved 36.5 crore shares, causing ITC's stock price to drop by 4.03%.
•Domestic mutual funds emerged as the primary institutional buyers absorbing the stake.

MUMBAI [NCRBuzz Wire] — **GQG Partners entities executed a massive secondary market block deal on the Bombay Stock Exchange (BSE), offloading 36.5 crore shares of ITC Ltd worth ₹9,395.4 crore.** The transaction, which represented a 2.91% equity stake in the FMCG and tobacco major, triggered immediate selling pressure and caused ITC shares to drop by 4.03% on Thursday.

### Transaction Dynamics and Market Impact

**Domestic mutual funds absorbed a significant portion of the equity offloaded by the global investment firm during the block deal session.** Market analysts noted that despite the short-term downward price correction in ITC stock, institutional demand remained robust, reflecting deep liquidity in Indian capital markets.

### Financial Metrics Overview

| Metric / Aspect | Details |

|---|---|

| Seller Entities | GQG Partners |

| Target Company | ITC Ltd |

| Total Shares Sold | 36.5 Crore (3.65 Crore or 365 Million) |

| Total Transaction Value | ₹9,395.4 Crore |

| Stake Sold | 2.91% |

| Stock Price Movement | -4.03% (Thursday's Session) |

| Major Buyers | Domestic Mutual Funds |

### Strategic Outlook

**Institutional portfolio rebalancing by global investment funds frequently triggers large-scale block deals on Indian bourses without undermining long-term fundamental valuations.** Market participants will continue monitoring quarterly earnings reports and institutional shareholding patterns to gauge retail and institutional sentiment toward ITC Ltd.

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🏛️ Background Context

Large secondary market block deals executed by foreign institutional investors (FIIs) like GQG Partners often reflect portfolio reallocation strategies rather than structural concerns regarding the target company. ITC Ltd remains a heavyweight constituent on the BSE Sensex and NSE Nifty 50, frequently witnessing high-volume institutional block transactions due to its stable dividend yield and robust balance sheet.

💡 Citizen & Commuter Quick Explainer (FAQ)

Q1: What was the total value and size of the ITC block deal executed by GQG Partners?

GQG Partners sold 36.5 crore shares representing a 2.91% equity stake in ITC Ltd for a total transaction value of ₹9,395.4 crore.

Q2: How did the block deal impact ITC's stock price on the BSE?

Following the execution of the block deal on Thursday, ITC's stock price registered a correction of 4.03% during the trading session.

Q3: Who were the primary buyers of the shares offloaded by GQG Partners?

Domestic mutual funds stepped in as major institutional buyers, absorbing a significant share of the equity offered during the block deal.

Verified Wires: Business Standard, Economic Times Markets Original Wire Dispatch ↗

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