ITC Limited has informed the Exchange about Amalgamation of Sresta Natural Bioproducts Private Limited and Wimco Limited with the Company
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ITC Limited has announced that the Scheme of Amalgamation involving Sresta Natural Bioproducts Private Limited and Wimco Limited has been sanctioned by the National Company Law Tribunal (NCLT), Kolkata and Hyderabad Benches. The appointed dates are 13th June 2025 for Sresta and 1st April 2025 for Wimco, with the effective date set as 1st June 2026. Upon the effective date, both subsidiaries will be dissolved without winding up and cease to be ITC's subsidiaries. Notably, Sresta's two overseas subsidiaries (Sresta Global FZE in UAE and Fyve Elements LLC in USA) will become direct wholly owned subsidiaries of ITC Limited.
Shareholders should note that this amalgamation simplifies ITC's corporate structure by consolidating these subsidiaries directly under ITC, potentially improving operational efficiency and reducing subsidiary-level administrative costs.