ITC moves up on inking pact to acquire 100% stake in Sproutlife Foods
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
ITC is currently trading at Rs. 400.20, up by 1.80 points or 0.45% from its previous closing of Rs. 398.40 on the BSE.
The scrip opened at Rs. 399.05 and has touched a high and low of Rs. 402.60 and Rs. 399.05 respectively. So far 47393 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 402.60 on 20-Apr-2023 and a 52 week low of Rs. 249.20 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 402.60 and Rs. 393.00 respectively. The current market cap of the company is Rs. 498425.65 crore.
The Institutions and Non-Institutions held 85.47% and 14.54% stake in the company respectively .
ITC has executed the transaction documents, including the Securities Subscription & Purchase Agreement and the Shareholders Agreement, to acquire 100% of the share capital (on a fully diluted basis) of Sproutlife Foods (Sproutlife), in one or more tranches, over a time period of three to four years.
Earlier, the company had divested its entire shareholding of 4,65,09,200 Equity Shares of Rs 10 each i.e. 26% of the paid-up share capital held in its Joint Venture Company Espirit Hotels.
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.
