ITC Limited — JV/Acquisition, 01-08-2025: Amalgamation/Merger

ITC's board has approved the merger of its wholly-owned subsidiaries, Sresta Natural Bioproducts (SNBPL) and Wimco, into the parent company. SNBPL, with a turnover of ₹226.6 Cr, specializes in organic packaged foods under '24 Mantra Organic'. This merger aims to unlock value for the organic foods business through significant synergies in product development, sourcing, and distribution. It also seeks to enhance operational efficiency, reduce costs, and optimize capital utilization by consolidating resources. Since SNBPL and Wimco are wholly-owned, no new shares will be issued by ITC, ensuring no change or dilution for existing shareholders. This move focuses on streamlining operations and fostering future growth.