ITC enters into agreement to acquire up to 10.07% stake in Blupin Technologies
21st Apr 2022

ITC has entered into Share Subscription agreement, Share Purchase agreement and shareholders' agreement to acquire up to 10.07% of the share capital of Blupin Technologies (Mylo) (on a fully diluted basis), subject to completion of conditions precedent.

The said investment will provide the company an early mover advantage m the evolving Content-to-Community-to-Commerce space and will provide an expanded presence in the D2C (direct-to-consumer) space.

With this investment, ITC will further expand its presence in the D2C mother and baby care segment. This investment will provide ITC an early mover advantage in the evolving Content-to-Community-to-Commerce space, which is expected to emerge as a platform of the future.

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.