Focus is on ITC Shares Following the Completion of the Rs 131 Cr Acquisition of Ample Foods
ITC shares: ITC has strengthened its presence in the rapidly expanding frozen and ready-to-cook food sector by paying Rs 131 crore to purchase a 43.75% share in Ample Foods Private Limited. The transaction, which was finalized without any regulatory obstacles, places Prasuma and Meatigo under ITC’s control and is consistent with its plan to increase the value-added foods portfolio in the Rs 10,000 crore+ market.
When markets open on Monday, April 7, shares of FMCG giant ITC are anticipated to be closely watched due to the company’s statement that it will pay over Rs 131 crore to acquire a sizable portion of Ample Foods Private Limited (AFPL).
In an exchange filing, ITC stated, “About our letter dated February 6, 2025, on the subject, we write to advise that the company today acquired 2,62,500 equity shares of Rs 10 each in Ample Foods Private Limited (‘AFPL’) (through primary subscription and secondary purchases) for an aggregate consideration of approximately Rs 131 crore; the company received confirmation of the above from AFPL today at 6:00 p.m.”
According to ITC’s April 4 statement, the firm purchased 2,62,500 equity shares in AFPL for Rs 10 apiece through a mix of primary and secondary transactions. With this calculated acquisition, ITC now owns a 43.75% share in AFPL, increasing its presence in the quickly developing frozen, chilled, and ready-to-cook food market.
The deal aligns with ITC’s continuous initiatives to bolster its portfolio of future-ready companies in the fast-growing FMCG industry. With this acquisition, ITC hopes to strengthen its position in the value-added packaged food market, particularly in markets with significant consumer traction, including momos, frozen snacks, deli meats, and marinades.
AFPL sells its goods under the Prasuma and Meatigo brands through online and physical retail channels. Strong growth momentum was seen in the company’s consolidated sales, which increased from Rs 91 crore in FY 2021–22 to Rs 131 crore in FY 2023–24.
