Athira Sethu
Kochi, 9 Oct 2026
Stocks of ITC Ltd have gained prominence since GQG Partners has sold off 2.91% shares of the company in bulk deal. Value of the shares that have been sold off amounts to ₹9,395.44 crore.
As per information released by the Bombay Stock Exchange (BSE), GQG Partners has sold off 36.50 crore ITC shares via 14 transactions through its investment fund. The average selling price of these shares amounted to ₹257.35 per share.
This is one of the transactions carried out by GQG Partners to reduce investments in various Indian firms.
Fidelity International, the Biggest Buyer
Various Indian and foreign investors have bought ITC shares as a part of the transaction.
Fidelity International, which is based in the US, emerged as the biggest buyer. This firm has bought off 13.4 crore shares of ITC through its investment portfolio. The value of these shares amounts to 1.07% of ITC. Value of the purchase stands at ₹3,448.49 crore.
Various other buyers include mutual funds of SBI, Kotak Mahindra, Mirae Asset, Aditya Birla Sun Life, Nippon India, ICICI Prudential and Edelweiss.
Along with ICICI Prudential Life Insurance and Bajaj Life, other shareholders also included foreigners like Ghisallo Capital Management, BNP Paribas, Citigroup Global Markets Singapore, and Morgan Stanley.
A major UK investment trust Alliance Witan also offloaded 16.11 lakh ITC shares valued at ₹41.46 crore.
What was the Holding of GQG Partners?
According to the holding data as on the quarter ended June, GQG Partners had a 1.06% stake in ITC through its mutual fund.
Another fund named Goldman Sachs Trust II – Goldman Sachs GQG Partners International Opportunities Fund had a stake of 2.06% in the company.
GQG Partners acts as the manager of international investment fund on behalf of Goldman Sachs Asset Management.
GQG Partners Reduces Holdings of Indian Stocks
Sale of ITC stocks is just one of the many investments made by the fund that the firm has been trimming down in recent months.
In the June quarter itself, the company had cut down investments in the companies of Adani Group by over ₹12,000 crore.
In June, GQG Partners sold 1.8% stake in GMR Airports for ₹1,906 crore.
It also trimmed stakes in Adani Enterprises and Adani Energy Solutions via transactions valued at ₹5,747 crore.
ITC Stock Price Movement
ITC shares plunged more than 4% on Thursday. The share price ended at ₹254.05 on the BSE and ₹255 on the NSE, having fallen 4.03% on the NSE.
Moreover, the stock has also come under pressure in recent months. According to the information available, ITC shares fell about 2% in the last five trading days and 2% in the last 30 days.
In the last six months, the share price has fallen 15.7%, and since the beginning of the year 2026, the stock price has fallen nearly 30%.
Investors will keep an eye on ITC stock to see how the market responds to the massive block deal and the selling pressure from the key players.
