ITC advances on plans to divest 100% stake in King Maker Marketing for $24 million

ITC Ltd. | Cigarettes/Tobacco | FMCG | BSE: 500875 | NSE: ITC

10 Oct 2016 Evaluate

ITC is currently trading at Rs. 241.00, up by 1.85 points or 0.77% from its previous closing of Rs. 239.15 on the BSE.

The scrip opened at Rs. 241.00 and has touched a high and low of Rs. 242.75 and Rs. 240.80 respectively. So far 59976 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 266.00 on 08-Sep-2016 and a 52 week low of Rs. 178.67 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 244.25 and Rs. 236.20 respectively. The current market cap of the company is Rs. 292070.26 crore.

The Institutions and Non-Institutions held 55.64% and 44.36% stake in the company.

ITC will be divesting 100% of its equity stake in US-based King Maker Marketing Inc for an estimated consideration of $24 million. The FMCG major has entered into an agreement with the US-based buyer, Premier Manufacturing Inc, to sell its shares in the subsidiary company on October 08, 2016. The sale is expected to be completed by November 30, 2016.

The corporate management committee has approved divestment of company’s entire shareholding (204 shares of common stock with no par value) in King Maker Marketing Inc, US, a wholly-owned subsidiary, along with assignment of certain trademarks owned by the company, pursuant to the authority given by the Board of Directors of the company.

ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.

ITC Share Price

290.00 -0.30 (-0.10%)

02-Jul-2026 13:13 View Price Chart

Peers

Company Name	CMP
ITC	290.00
Godfrey Phillips Ind	2168.85
VST Industries	261.85
Indian Wood Products	33.79
NTC Industries	152.50
View more..

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