Latest news with #SrestaNaturalBioproducts
Time of India
16-06-2025
- Business
- Time of India
ITC shares in focus after Rs 472 crore acquisition of Sresta Natural Bioproducts
ITC's shares are set to be in focus following the completion of its acquisition of Sresta Natural Bioproducts for up to Rs 472.5 crore. This acquisition, finalized on June 13, 2025, makes SNBPL a wholly-owned subsidiary and strengthens ITC's presence in the growing organic food sector, both domestically and internationally, with SNBPL's established network of farmers and certified organic farmland. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of ITC are likely to be in focus on Monday, June 16, 2025, after the company announced the completion of its acquisition of Sresta Natural Bioproducts Private Ltd (SNBPL) for a total consideration of up to Rs 472.5 to the company's filing, ITC has acquired the entire share capital of SNBPL, comprising 1,87,48,858 equity shares of Rs 10 each. The acquisition was made for an upfront cash consideration of Rs 400 crore on a cash-free, debt-free basis, subject to customary ITC may pay up to Rs 72.5 crore over the next 24 months, contingent on specific terms outlined in the Share Purchase this transaction, SNBPL has become a wholly owned subsidiary of ITC. Furthermore, SNBPL's overseas subsidiaries—Fyve Elements LLC (USA) and Sresta Global FZE (UAE)—have now become step-down wholly owned subsidiaries of ITC, effective June 13, transaction was concluded on June 13, 2025, the company is primarily engaged in the manufacturing and sale of organic food products under the brand '24 Mantra Organic'. The company operates across India and has developed a substantial organic value has a network of approximately 27,500 farmers and manages around 1.4 lakh acres of certified organic farmland spread across 71 clusters in 10 Indian states. In addition to its domestic market, SNBPL also has a presence in the US with its own distribution on March 9, 2004, SNBPL has consistently reported a consolidated turnover of over Rs 300 crore in each of the last three financial years. For FY2023–24, the company posted a turnover of Rs 306.1 crore, compared to Rs 327.3 crore in FY2022–23 and Rs 326.7 crore in FY2021– stated in its disclosure that the acquisition aligns with the company's strategy to augment its future-ready portfolio. The move is expected to strengthen ITC's presence in the high-growth organic products segment, both in India and international company also highlighted that the domestic organic food products sector holds significant growth potential, driven by increasing health consciousness, rising household incomes, and the growing reach of modern trade and e-commerce channels. ITC shares closed 1.7% lower at Rs 413.90 on the BSE on Friday.
Time of India
14-06-2025
- Business
- Time of India
ITC completes acquisition of 24 Mantra Organic brand owner Sresta Natural
Multi-conglomerate ITC has completed the acquisition of Sresta Natural Bioproducts , which owns the ' 24 Mantra Organic brand' in an all-cash deal valued at Rs 472.50 crore. This will help ITC to expand its play in the fast-growing organic food products segment . "The company has completed the acquisition of 100 per cent of the share capital of SNBPL on 13th June, 2025," ITC said in a regulatory filing. On the acquisition cost, ITC said it had an upfront consideration of Rs 400 crore on a cash-free debt-free basis and addition, consideration of up to Rs 72.50 crore, which is payable in the next 24 months. In April ITC had informed it had signed a share purchase agreement with Sresta Natural Bioproducts Private Limited (SNBPL) to acquire 100 per cent stake in the company. This acquisition is "in line with the strategy to augment the company's future-ready portfolio, the transaction is expected to fortify ITC's presence and market standing in the high-growth organic products segment in both Indian and overseas market," the Kolkata-headquartered firm said. SNBPL's portfolio comprises a wide range of over 100 organic products, spanning branded grocery staples, spices and condiments, edible oils, and beverages, among others. Besides, it has a strong international presence with a deep connection with the Indian diaspora. The domestic organic food products industry offers a "significant opportunity" for growth on the back of increasing health and environmental consciousness, a rise in household incomes and new-age distribution channels, ITC said, adding that SNBPL is a pioneer and leading player in the organic packaged staples category. SNBPL has two wholly-owned subsidiaries -- Fyve Elements LLC, USA and Sresta Global FZE, UAE. SNBPL, incorporated in March 2004, recorded a revenue of Rs 306.1 crore in FY 2023-24. Over the years, it has built a strong network of approximately 27,500 farmers and 1.4 lakh acres of certified organic land across 71 clusters in 10 states.
Time of India
14-06-2025
- Business
- Time of India
ITC completes acquisition of 24 Mantra Organic brand owner Sresta Natural
Multi-conglomerate ITC has completed the acquisition of Sresta Natural Bioproducts , which owns the ' 24 Mantra Organic brand' in an all-cash deal valued at Rs 472.50 crore. This will help ITC to expand its play in the fast-growing organic food products segment . "The company has completed the acquisition of 100 per cent of the share capital of SNBPL on 13th June, 2025," ITC said in a regulatory filing. On the acquisition cost, ITC said it had an upfront consideration of Rs 400 crore on a cash-free debt-free basis and addition, consideration of up to Rs 72.50 crore, which is payable in the next 24 months. In April ITC had informed it had signed a share purchase agreement with Sresta Natural Bioproducts Private Limited (SNBPL) to acquire 100 per cent stake in the company. This acquisition is "in line with the strategy to augment the company's future-ready portfolio, the transaction is expected to fortify ITC's presence and market standing in the high-growth organic products segment in both Indian and overseas market," the Kolkata-headquartered firm said. SNBPL's portfolio comprises a wide range of over 100 organic products, spanning branded grocery staples, spices and condiments, edible oils, and beverages, among others. Besides, it has a strong international presence with a deep connection with the Indian diaspora. The domestic organic food products industry offers a "significant opportunity" for growth on the back of increasing health and environmental consciousness, a rise in household incomes and new-age distribution channels, ITC said, adding that SNBPL is a pioneer and leading player in the organic packaged staples category. SNBPL has two wholly-owned subsidiaries -- Fyve Elements LLC, USA and Sresta Global FZE, UAE. SNBPL, incorporated in March 2004, recorded a revenue of Rs 306.1 crore in FY 2023-24. Over the years, it has built a strong network of approximately 27,500 farmers and 1.4 lakh acres of certified organic land across 71 clusters in 10 states.
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Business Standard
14-06-2025
- Business
- Business Standard
ITC completes acquisition of 24 Mantra Organic brand owner Sresta Natural
Multi-conglomerate ITC has completed the acquisition of Sresta Natural Bioproducts, which owns the '24 Mantra Organic brand' in an all-cash deal valued at Rs 472.50 crore. This will help ITC to expand its play in the fast-growing organic food products segment. The company has completed the acquisition of 100 per cent of the share capital of SNBPL on 13th June, 2025, ITC said in a regulatory filing. On the acquisition cost, ITC said it had an upfront consideration of Rs 400 crore on a cash-free debt-free basis and addition, consideration of up to Rs 72.50 crore, which is payable in the next 24 months. In April ITC had informed it had signed a share purchase agreement with Sresta Natural Bioproducts Private Limited (SNBPL) to acquire 100 per cent stake in the company. This acquisition is "in line with the strategy to augment the company's future-ready portfolio, the transaction is expected to fortify ITC's presence and market standing in the high-growth organic products segment in both Indian and overseas market, the Kolkata-headquartered firm said. SNBPL's portfolio comprises a wide range of over 100 organic products, spanning branded grocery staples, spices and condiments, edible oils, and beverages, among others. Besides, it has a strong international presence with a deep connection with the Indian diaspora. The domestic organic food products industry offers a "significant opportunity" for growth on the back of increasing health and environmental consciousness, a rise in household incomes and new-age distribution channels, ITC said, adding that SNBPL is a pioneer and leading player in the organic packaged staples category. SNBPL has two wholly-owned subsidiaries -- Fyve Elements LLC, USA and Sresta Global FZE, UAE. SNBPL, incorporated in March 2004, recorded a revenue of Rs 306.1 crore in FY 2023-24. Over the years, it has built a strong network of approximately 27,500 farmers and 1.4 lakh acres of certified organic land across 71 clusters in 10 states.
