ITC has entered into a Share Subscription Agreement on November 26, 2021 to acquire 16% of the share capital of Mother Sparsh Baby Care (Mother Sparsh) (on a fully diluted basis), subject to completion of conditions precedent, and a Shareholders' Agreement m connection with such proposed acquisition.
The said acquisition will, inter alia, enable access to the fast growing direct to consumer (D2C) space in the 'personal care' category, which has been identified by the company as an area of interest. This share acquisition is expected to be completed, in two tranches, within 8 months from the date of execution of the Agreements.
ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agribusiness, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
