ITC informed that it completed acquisition of 11.15% stake in Delectable Technologies.
The announcement was made post trading hours on Friday, 6 November 2019.
The scrip slipped 0.39% to Rs 242.35 after it traded in the range of Rs 242 and Rs 243.30.
On 13 November 2019, the tobacco major had announced its plans to acquire up to 33.42% stake in Delectable Technologies.
Delectable is engaged in fabricating vending machines and app based sale of FMCG products through such machines. The said acquisition will strengthen presence of ITC's FMCG products in the emerging distribution channel of vending machines.
The company had informed that the total cost of acquisition of is Rs 7.5 crore and would be done in four tranches and over a period of 12 months.
ITC is engaged in the marketing of fast moving consumer goods. The firm operates through four segments: FMCG; hotels; paperboards, paper and packaging and agri business.
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