ITC Share Price: ITC bought 49.3% stake in this company by investing Rs 81 crore

ITC Share Price: The country's largest FMCG company ITC has increased its stake in Indian baby care brand Mother Sparsh to 49.3%.

For this, the company has made an additional investment of Rs 81 crore. This investment will be made in two phases, in which the company will invest one part by buying shares directly and the second by acquiring stake from the secondary market.

After this investment, ITC's total investment in Mother Sparsh will be around Rs 126 crore. ITC is now planning to buy the remaining stake in the next 2 to 3 years, which will be based on pre-decided terms and valuation. Company statement Sameer Satpathy, head of ITC's personal care division, said, "Mother Sparsh is an Indian-minded, innovative brand that makes natural baby care products. This will strengthen our future product portfolio." Mother Sparsh founder Himanshu Gandhi said, "We are happy that ITC has shown faith in our brand. We have built Mother Sparsh with love, hard work and innovation and now it has found a home where it will grow further." What does Mother Sparsh do? Mother Sparsh is known among Indian mothers for its natural and Ayurvedic baby care products. The company also has a strong presence on the digital platform and its products are available on its website as well as major e-commerce sites. Currently, the company's annual revenue is around Rs 110 crore. ITC first invested in Mother Sparsh in 2021 and is now preparing to buy it completely. This acquisition will further strengthen ITC in the baby care and natural personal care segment.

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