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ITC acquires 11.15% stake in Delectable Technologies

Capital Market 

ITC said that the company has acquired 100 equity shares and 1,864 Compulsorily Convertible Preference Shares of Delectable Technologies.

ITC said that the company has acquired, in the first tranche, 100 equity shares of Rs 10 each and 1,864 Compulsorily Convertible Preference Shares of Rs 10 each of Delectable Technologies Private Limited, representing 11.15% of its share capital on a fully diluted basis. The announcement was made after market hours yesterday, 6 December 2019.

Delectable Technologies is engaged in fabricating vending machines and app based sale of FMCG products through such machines.

On 13 November 2019, ITC said it has agreed to acquire, in four tranches over a period of 12 months, up to 33.42% of the share capital of Delectable Technologies on a fully diluted basis.

Shares of ITC declined 1.46% to settle at Rs 243.30 yesterday, 6 December 2019. The stock hit a 52-week high of Rs 310 on 15 April 2019. The stock hit a 52-week low of Rs 234.1 on 18 September 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, December 07 2019. 12:03 IST
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