ITC's shares slipped 1.06% to ₹266.15 on the NSE at 10:15 a.m., a modest dip after the company announced it had paid ₹645 crore to grab the last 52.5% of Sproutlife Foods Private Ltd.
The deal, consummated via a secondary purchase of 13,445 equity shares, lifts ITC's ownership from roughly 47.5% to a full 100%, a clean‑slate takeover effective September 28, 2026.
Sproutlife, a niche player in the new‑and‑innovative food space, fits into ITC's 'future‑ready' strategy, according to the company's filing – a move that could diversify its portfolio beyond its core FMCG roots.
Meanwhile, ITC Infotech is busy acquiring a 22.106% stake in Happiest Minds Technologies for about ₹1,330 crore, a deal that could merge the two tech arms pending regulatory clearance.
Regulatory approvals are already in place, and the board approved the transaction. Analysts will look to ITC's next earnings release on October 15 for guidance on how the Sproutlife integration will impact profitability.