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.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Play War Thunder now for free
War Thunder
Play Now
Undo
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.
Live Events
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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
34 minutes ago
- Time of India
Crest mobilises UT departments to promote rooftop solar adoption
1 2 3 Chandigarh: Aiming to promote the use of solar energy in private homes, Chandigarh Renewable Energy and Science and Technology Promotion Society (Crest) has initiated a big move under PM Surya Ghar: Muft Bijli Yojna. Crest plans to involve several departments of the Chandigarh administration to help spread awareness and encourage people to join this central government scheme. In a detailed letter, Crest has asked the municipal commissioner, deputy commissioner, and secretary engineering of the UT administration to actively support the scheme. Their role will be to engage with residents and motivate them to install rooftop solar panels. The goal of the scheme is to help one crore households across the country generate their own electricity using solar power by the end of the 2026–2027 financial year. In its communication to the officials, Crest explained that the ministry of new and renewable energy (MNRE) will soon brief field officers and promote experience-sharing on the scheme. Therefore, it is important to help people understand the scheme, its guidelines, and its goals. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Tìm hiểu thêm Undo The letter reads that a video conference will soon be held by the ministry to brief field officers and encourage experience-sharing. Officers are expected to actively participate and come well-prepared with a good understanding of the scheme's guidelines and objectives. Expansion is the challenge According to the Chandigarh administration, CREST has already implemented the scheme on government properties in the city. By installing solar panels on the rooftops of government buildings, the authority is generating around 20 megawatts (MW) of solar power under this scheme alone. The main challenge now is to expand the scheme to private buildings, which requires the consent of individual households. Currently, Chandigarh is generating a total of about 90 MW of solar power. Resco vs PM scheme Under the Resco model for private properties, which is still awaiting approval from the central government, consumers will not have to pay anything upfront. A selected company will install solar panels on rooftops at no cost to the property owner. In return, the consumer will be charged Rs 3.95 per unit (kWh) of electricity generated. This rate will remain fixed for a BOT (build, operate, transfer) period of less than 20 years. Out of this amount, Rs 0.07 per unit will be retained by the electricity department as facilitation charges, while the remaining Rs 3.88 per unit will be paid to the Resco company on a monthly or bi-monthly basis. In contrast, under the PM Surya Ghar: Muft Bijli Yojana, the consumer is required to make an initial capital investment to install the solar panels. However, the government provides a subsidy to support this investment. For installations up to 2 kilowatts, a subsidy of Rs 30,000 per kilowatt is offered, totalling Rs 60,000. For the third kilowatt, an additional Rs 18,000 is provided. This means that for a 3-kilowatt system, the total subsidy amounts to Rs 78,000. No more subsidy is given for systems above 3 kilowatts, as the maximum subsidy cap is fixed at Rs 78,000. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
United News of India
37 minutes ago
- United News of India
Crompton Greaves secures solar pumps order worth Rs 101 crore from MEDA
Mumbai, Jun 14 (UNI) Crompton Greaves Consumer Electricals Ltd said that it has secured its largest-ever order in the solar water pump segment. The company has received a Letter of Award (LoA) from the Maharashtra Energy Development Agency (MEDA) valued at over Rs 101 crore (exclusive of GST) for the design, manufacture, supply, transportation, installation, testing, and commissioning of 4,500 Off-grid Solar Photovoltaic Water Pumping Systems (SPWPS) across Maharashtra under Component B of the PM-KUSUM scheme. This significant order underscores Crompton's ongoing commitment to providing sustainable irrigation solutions that empower farmers across India. The turnkey project also includes a comprehensive five-year maintenance contract (CMC), ensuring long-term reliability and support for the installed systems. Crompton's advanced solar-powered DC submersible pumps are engineered for durability, high performance, and ease of use, specifically designed to address water access challenges in off-grid and rural regions. The company will leverage its trained field personnel, local district support teams, and robust after-sales service network to ensure seamless implementation and operational excellence throughout the project's lifecycle. Rajat Chopra, Business Head - Home Electricals & Pumps at Crompton Greaves Consumer Electricals Ltd., commented, "We are delighted to have received the Letter of Award from MEDA for 4,500 Solar Photovoltaic Water Pumping Systems under the PM-KUSUM scheme. This milestone not only marks our largest solar pump order to date but also reflects our ongoing commitment to delivering reliable and high-performance pumping solutions tailored to the needs of farmers across India. The order reinforces confidence in Crompton's product excellence, long-lasting performance, and robust service network. It further strengthens our position as a trusted partner in driving solar-powered irrigation forward. At Crompton, we remain focused on enabling clean energy access for farmers while ensuring seamless execution backed by quality, innovation, and strong after-sales support." UNI JS BD
Time of India
37 minutes ago
- Time of India
Iran DESTROYS Israel's Harop & Harpy Drones MID-AIR Amid Blitz
'Cricketers Aren't Cattle... ': Harish Thawani on the IPL and Business of Indian Cricket "Cricketers are not cattle to be sold in an auction." 🎙️ In this explosive episode of the Bombay Sport Exchange, K Shriniwas Rao sits down with Harish Thawani — the man behind Nimbus Communications — to explore how cricket broadcasting in India was built, negotiated, and fought over. From billion-dollar deals to bold opinions, this is the untold business story of Indian cricket. 14.4K views | 2 days ago
