ITC has entered into an agreement to acquire further 1000 Compulsorily Convertible Preference Shares of ₹ 10/- each of Mother Sparsh. The said shares, once acquired, will take the Company’s shareholding in Mother Sparsh to 22% (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.
The current shareholding of the Company in Mother Sparsh is 16% (on a fully diluted basis). The Company has executed (i) a Share Subscription Agreement on 18th October, 2022 to acquire 1000 Compulsorily Convertible Preference Shares of ₹ 10/- each of Mother Sparsh, subject to completion of conditions precedent; and (ii) an Amended and Restated Shareholders’ Agreement in connection with such proposed acquisition. Upon completion of the aforesaid acquisition, the Company’s shareholding in Mother Sparsh would aggregate 22% of its share capital (on a fully diluted basis). 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.
Last 3 years’ turnover
- 2021-22 ₹ 33.53 crores
- 2020-21 ₹ 15.57 crores
- 2019-20 ₹ 3.36 crores