ITC has acquired 96.825% of Wimco's equity share capital from Russell Credit, a wholly owned subsidiary of the company. The company has acquired the entire shareholding compromising 9,12,38,170 equity shares of Rs 1 each in Wimco’s share capital.
Pursuant to this acquisition, Wimco has become a direct subsidiary of the company with effect from September 29, 2011.
Recently, the company had acquired 26% stake in a 275-room, five-star luxury hotel property being developed by Noida-based Logix Group in Noida's Sector 105. The company plans to invest close to Rs 100 crore in the project and would also manage it under the top-end ITC hotels brand.
| Company Name | CMP |
|---|---|
| ITC | 306.00 |
| Godfrey Phillips | 2394.00 |
| VST Industries | 260.70 |
| The Indian Wood Pro. | 35.48 |
| NTC Industries | 162.05 |
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