ITC has acquired 400 equity shares of Rs 10 each and 2,980 Compulsorily Convertible Cumulative Participating Preference Shares of Rs 100 each of Blupin Technologies, representing 10.07% of its share capital on a fully diluted basis.
The investment will provide the company an early mover advantage in the evolving content-to-community-to-commerce space and will provide an expanded presence in the D2C (direct-to-consumer) space.
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.
