Home / Companies / News /  ITC picks up 8.70% stakes in D2C personal care brand Mother Sparsh

ITC Ltd has bought 8.70% equity stake in D2C Ayurvedic and natural personal care brand Mother Sparsh Baby Care, the company said on Saturday. The Kolkata-headquartered company on November 26 said that it would acquire 16% stake in Mother Sparsh through a share subscription agreement

"The company has acquired on December 17, 2021, in the first tranche, 100 equity shares of 10 each and 940 Compulsorily Convertible Preference Shares of 10 each of Mother Sparsh Baby Care Pvt Ltd, representing 8.70 per cent of its share capital on a fully diluted basis," ITC said in a regulatory filling.

The acquisition is to be completed in two tranches, ITC had said earlier on November 26.

Mother Sparsh is a premium Ayurvedic and natural personal care start-up in the D2C space, focusing on mother and baby care segment. The start-up, which was incorporated on February 5, 2016, had reported a turnover of 15.44 crore in FY2020-21.

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