ITC has bought 8.70 per cent equity stake in Mother Sparsh Baby Care, a D2C Ayurvedic and natural personal care brand. The company has acquired on December 17, 2021, in the first tranche, 100 equity shares of Rs 10 each and 940 Compulsorily Convertible Preference Shares of Rs 10 each of Mother Sparsh Baby Care, representing 8.70 per cent of its share capital on a fully diluted basis. Mother Sparsh is a premium Ayurvedic and natural personal care start-up in the D2C space, focusing on mother and baby care segment.
This acquisition is pursuant to the company’s announcement made on November 26, where it had said to acquire a 16 per cent stake in Mother Sparsh through a share subscription agreement.
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.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
