ITC invests further Rs 50 cr in Sproutlife Foods

ITC has acquired 2,356 Compulsorily Convertible Preference Shares of Rs. 10/- each of Sproutlife Foods for a cash consideration of Rs 50 crore, in terms of the Securities Subscription & Purchase Agreement and the Shareholders Agreement executed on 19 April 2023. With this acquisition, the company now holds 44.74% stake in Sproutlife Foods (on a fully diluted basis) at a total investment of Rs 225 crore.

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