ITC Ltd inks agreement to acquire further shares in Mother Sparsh Baby Care Private Limited

ITC Limited has today entered into definitive agreements to acquire further 857 Compulsorily Convertible Preference Shares of ₹ 10/- each of Mother Sparsh for an amount of ₹ 11.54 crores (approx.). The said shares, once acquired, will take the Company's shareholding in Mother Sparsh from 22% to 26.50% (on a fully diluted basis).

Mother Sparsh is a premium ayurvedic and natural personal care start-up in the D2C space, with focus on mother and baby care segments.

Shares of ITC Limited was last trading in BSE at Rs. 453.50 as compared to the previous close of Rs. 453.20. The total number of shares traded during the day was 349002 in over 10308 trades.

The stock hit an intraday high of Rs. 455.90 and intraday low of 452.20. The net turnover during the day was Rs. 158549915.00.

Source : Equity Bulls

Keywords

ITC INE154A01025 StakeAcquisition MotherSparsh BabyCare