44.94% of the shareholding of Britannia is held by London based Associated Biscuits International Ltd & other 5.8% is held by its other wholly owned subsidiaries based out of Singapore.

Overall holding of ABIL is 50.74%
Associated Biscuits International Ltd is now controlled 100% by London based company ABI Holdings Ltd.
Mauritius based Leila Lands Ltd holds a 50% stake in ABI Holdings Ltd

London based Britannia Brands Ltd holds the reamining 50% stake in ABI Holdings Ltd

Leila Lands in turn holds 100% stake in Britannia Brands
Ltd.

Leila lands consequently holds 100% of ABI Holdings Ltd
Malaysia based Leila Lands Sdn, Bhd holds a 100% stake in Leila Lands Ltd
Bombay Burmah the listed entity holds a 100% stake in Leila Lands Sdn, Bhd
In case of sale of Britannia stake, the money will move from London & Singapore to Mauritius to Malaysia and then to India.
For all those interested, all the data is available in the website of BBTC. Pick up the annual reports of all companies and a reading will help you analyse even the financials.

Must say, all data has been put in public domain by the company and is easily accessible.
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