[ad_1]
NEW DELHI: FMCG main ITC is strengthening its presence within the Rs 45,000 crore, fast-growing, nutrition-led wholesome meals house, as it’s buying a 100% stake in Sproutlife Foods Private Limited (SFPL), which operates beneath the model identify ‘Yoga Bar´, over a interval of three-four years.
The first 47.5% stake in SFPL can be acquired, in tranches, by March 31, 2025; and the stability stake can be acquired at a later date.
“Initial Investment of Rs 175 crore will be made through primary subscription and secondary purchases for acquisition of 39.4% of the paid-up share capital on a fully diluted basis, which is expected to be completed by February 5, 2023, or such other later date as may be mutually agreed upon,” mentioned ITC in a regulatory submitting.
“Further infusion of Rs 80 crore will be made through primary subscription, in one or more tranches, by March 31, 2025, or such other later date as may be mutually agreed upon, based on pre-agreed pre-money valuation,” it added.
[adinserter block=”4″]
[ad_2]
Source link