Merger2 Nov 2026, 06:50 pm
ITC Ltd Approves Amalgamation of Wholly Owned Subsidiary Sproutlife Foods
AI Summary
ITC Ltd's Board of Directors has approved the Scheme of Amalgamation of Sproutlife Foods Private Limited, a wholly owned subsidiary, with the company. The amalgamation, subject to necessary approvals, will be effective from April 1, 2026. Sproutlife Foods, engaged in the manufacture and sale of food products under the 'Yoga Bar' brand, had total assets of ₹150.07 crore and a turnover of ₹451.71 crore for FY 2025-26. ITC, a diversified conglomerate, expects the amalgamation to enable seamless integration, optimize resource deployment, enhance capital allocation efficiency, and simplify its corporate holding structure. No new shares will be issued by ITC as Sproutlife is wholly owned.
Key Highlights
- ITC Ltd board approves amalgamation of wholly owned subsidiary Sproutlife Foods.
- Sproutlife Foods, known for 'Yoga Bar' brand, had ₹451.71 Cr turnover in FY26.
- Amalgamation aims for business integration, synergy realization, and resource optimization.
- No change in ITC's shareholding pattern post-amalgamation.
- Effective date for amalgamation is April 1, 2026, subject to approvals.
Price Impact
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