ITC agrees to invest in Mother Sparsh Baby Care Private Limited ('Mother Sparsh'), a premium ayurvedic and natural personal care brand in the D2C space with a focus on the mother and baby care segment. It has a wide range of baby and mother care products that leverages the wisdom and knowledge of Ayurveda for potent product delivery.
ITC has agreed to acquire 16% of the share capital of Mother Sparsh on a fully diluted basis. This investment is in line with the 'ITC Next' strategy articulated by Chairman Sanjiv Puri which aims to build a future ready organization with a digital first culture. One of the identified pillars of this strategy is to accelerate digital transformation by developing digital first FMCG brands. ITC has also been focusing on strengthening D2C platforms of distribution and has created a vibrant ITC eStore.
Recognising the significant potential of naturals and Ayurveda, ITC has taken this strategic step forward to invest in this segment. Over the last few years, ITC has been engaging with the start-up ecosystem whilst also exploring innovative distribution channels.
Commenting on the development, Sameer Satpathy, Chief Executive, Personal Care Products Business, ITC stated - "We believe that this investment provides an exciting opportunity which is in alignment with our aspiration to have a significant play both in the naturals and ayurvedic segment as well as in the D2C channel. Mother Sparsh has, within a short span of time, evolved into an effective D2C brand with a range of innovative products and a lot of promise."
Speaking on this investment from ITC, Himanshu, CEO, Mother Sparsh said - "We are delighted that ITC has come forward to invest in our company which has been growing from strength to strength every year. ITC has been a frontrunner in developing a portfolio of vibrant FMCG brands and has been making giant strides in this space through focus on innovation and digitalization. We believe that this partnership will provide a unique synergy of strengths to build our brand further."
Shares of ITC Limited was last trading in BSE at Rs. 231.30 as compared to the previous close of Rs. 227.90. The total number of shares traded during the day was 1434843 in over 22648 trades.
The stock hit an intraday high of Rs. 232.15 and intraday low of 225.70. The net turnover during the day was Rs. 328171611.00.