ITC moves up on acquiring preference shares in Mother Sparsh
ITC is currently trading at Rs. 447.85, up by 2.70 points or 0.61% from its previous closing of Rs. 445.15 on the BSE.
The scrip opened at Rs. 444.05 and has touched a high and low of Rs. 450.40 and Rs. 444.05 respectively. So far 179703 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 455.90 on 19-Jun-2023 and a 52 week low of Rs. 268.95 on 28-Jun-2022.
Last one week high and low of the scrip stood at Rs. 451.45 and Rs. 442.60 respectively. The current market cap of the company is Rs. 556837.33 crore.
The Institutions and Non-Institutions held 85.47% and 14.54% stake respectively in the company.
ITC has acquired 857 Compulsorily Convertible Preference Shares of Rs 10 each of Mother Sparsh at a consideration of around Rs 11.54 crore. With the aforesaid acquisition, the Company’s shareholding in Mother Sparsh aggregates 26.50% of its share capital on a fully diluted basis.
Earlier, the company had entered into definitive agreements to acquire further 857 Compulsorily Convertible Preference Shares. The said acquisition is in line with the Company’s continued interest in the fast growing Direct to Consumer (D2C) space in the 'personal care' category.
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.
