ITC has acquired, in the second tranche, 1,681 equity shares of Mother Sparsh Baby Care (Mother Sparsh) (through secondary purchase). The shares have been acquired for a consideration of around Rs 30 crore. Post this acquisition, the company’s shareholding in Mother Sparsh has increased from 39.47% to 49.32% of its share capital (on a fully diluted basis). Mother Sparsh is a premium ayurvedic and natural personal care start-up, with focus on baby personal care, health & hygiene and expert baby care.
Earlier, the company had acquired 594 Equity Shares of Rs 10 each (through secondary purchase) and 2,201 Compulsorily Convertible Preference Shares of Rs 10 each (through primary subscription) of Mother Sparsh for an aggregate consideration of around Rs 50.6 crore. The company had executed Transaction (Documents Share Subscription and Share Purchase Agreement and Shareholders’ Agreement) for acquisition of 73.50% of the share capital (on a fully diluted basis) of Mother Sparsh.
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.
| Company Name | CMP |
|---|---|
| ITC | 280.30 |
| Godfrey Phillips | 2233.90 |
| VST Industries | 255.50 |
| The Indian Wood Pro. | 35.25 |
| NTC Industries | 155.50 |
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