Merger7 May 2026, 12:40 pm
ITC: Sresta & Wimco Amalgamation Sanctioned
AI Summary
The Scheme of Amalgamation of Sresta Natural Bioproducts Private Limited and Wimco Limited with ITC Ltd has been sanctioned by the National Company Law Tribunal, Kolkata and Hyderabad Benches. The appointed date is June 13, 2025, for Sresta and April 1, 2025, for Wimco. The effective date is June 1, 2026, after which Sresta and Wimco will be dissolved, and Sresta's subsidiaries, Sresta Global FZE, UAE, and Fyve Elements LLC, USA, will become direct wholly-owned subsidiaries of ITC.
Key Highlights
- NCLT sanctions amalgamation of Sresta and Wimco with ITC.
- Appointed date for Sresta is June 13, 2025, and for Wimco is April 1, 2025.
- Effective date of the scheme is June 1, 2026.
- Sresta and Wimco will be dissolved without winding up from June 1, 2026.
- Sresta's subsidiaries will become direct wholly-owned subsidiaries of ITC.