ITC to acquire Sresta, increase stake in Mother Sparsh

ITC Limited (BSE: ITC) announced today that it will acquire 100% of Sresta Natural Bioproducts Private Limited, the company behind the "24 Mantra Organic" brand, for a consideration of up to INR 4.72 billion (split into two payments of INR 4 billion and 0.72 billion), subject to adjustments. The acquisition will be completed in Q1 of FY 2025-26. Separately, ITC will increase its stake in Mother Sparsh Baby Care Private Limited, an associate company, in two tranches, bringing its total ownership to 49.3% and then to 100% for consideration of INR 0.081 billion, payable by Q1FY27 and Q1FY28/29, respectively. With a strong digital first strategy, Mother Sparsh reported revenues of over INR 1.10 billion within the last three months. These moves align with ITC's strategy to build a future-ready portfolio that addresses evolving consumer needs.