ITC Invests ₹131 Crore to Pick 43.75% Stake in Ample Foods

ITC Limited has acquired 2,62,500 equity shares of Ample Foods Private Limited (AFPL) at a face value of ₹10 each, for a total cash consideration of approximately ₹131 crore. The acquisition includes both primary subscription and secondary share purchases. Following this transaction, ITC holds 43.75% of the total share capital of AFPL.

As of 9:34 AM on April 7, 2025, ITC Ltd share price was trading at ₹407, a 0.66% down,  with a 19.78% decline over the past six months and a 4.61% drop over the past year.

About Ample Foods

AFPL is engaged in the business of manufacturing and selling various food products. These include ready-to-cook snacks and meals, sauces and condiments, deli meats, marinades, cheese, and frozen food items. The products are sold under the brand names “Prasuma” and “Meatigo” through offline retail stores, online platforms, and D2C websites: prasuma.com and meatigo.com.

The company was incorporated on December 17, 1993, and operates within India. It has expanded its product lines in recent years.

Financials of the Target Business

AFPL, along with its related businesses – Chao Chao Foods Private Limited and Meat and Spice Private Limited (MSPL) reported a consolidated turnover of:

• ₹131 crore in FY 2023-24
• ₹111 crore in FY 2022-23
• ₹91 crore in FY 2021-22

AFPL alone reported a turnover of ₹116 crore in FY 2023-24, ₹98 crore in FY 2022-23, and ₹74 crore in FY 2021-22. MSPL reported ₹42 crore in FY 2023-24, ₹44 crore in FY 2022-23, and ₹46 crore in FY 2021-22. As per the reports, The frozen, chilled, and ready-to-cook foods market in India is currently valued at over ₹10,000 crore.

Regulatory and Structural Notes

The acquisition does not require regulatory approvals and is not a related party transaction. The deal was executed as per definitive agreements signed on February 6, 2025, and closed on April 4, 2025.

Conclusion

With this acquisition, ITC adds a stake in a growing food business operating across multiple product categories and sales channels.

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