ITC bought 13,445 equity shares of Sproutlife through a secondary purchase, with the transaction completed through cash consideration.
Following the acquisition, Sproutlife became a wholly owned subsidiary of ITC with effect from September 28, 2026. ITC’s stake has increased from around 47.50% to 100%.
Sproutlife operates in the new and innovative food products industry. ITC said the acquisition is part of its strategy to expand its future-ready portfolio in the foods segment.
The company said the transaction is not a related-party transaction and did not require any government or regulatory approvals.
ITC also plans Happiest Minds takeover
The Sproutlife acquisition comes as ITC is pursuing another major deal in the technology space.
On August 31, ITC had said its technology arm ITC Infotech had agreed to acquire a 22.106% stake in Happiest Minds Technologies from its promoter group, including founder Ashok Soota and Ashok Soota Medical Research LLP.
The deal involves the purchase of 3.37 crore Happiest Minds shares in two tranches.
The first tranche covers 1.68 crore shares, or 11% of the company, at ₹390 per share for ₹653.25 crore. The second involves 1.69 crore shares, or 11.106%, at ₹400 per share for ₹676.47 crore.
The total consideration is around ₹1,330 crore.
The acquisition is proposed to be followed by the amalgamation of Happiest Minds with and into ITC Infotech, subject to statutory, shareholder and regulatory approvals, including those from the Competition Commission of India, stock exchanges and the National Company Law Tribunal.
The proposed transaction has also been approved by the ITC board.
ITC shares closed 1.06% lower at ₹266.15 on the NSE on September 28.
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