ITC hikes stake in Delectable Technologies
19th Sep 2020

ITC has acquired, in the second tranche, 1964 Compulsorily Convertible Preference Shares of Rs 10 each of Delectable Technologies. With this acquisition, the company’s shareholding in Delectable Technologies aggregates 20.06% of its share capital on a fully diluted basis. The object of the said acquisition is to strengthen presence of ITC's FMCG products in the emerging distribution channel of vending machines.

Earlier, the company had acquired, in the first tranche, 100 Equity Shares of Rs 10 each and 1864 Compulsorily Convertible Preference Shares of Rs 10 each of Delectable, representing 11.15% of its share capital on a fully diluted basis.

ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agribusiness, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.