ITC Limited Dissolves Step-Down Subsidiary, Blazeclan Americas Inc.
ITC Limited announced the voluntary dissolution of its step-down subsidiary, Blazeclan Americas Inc., based in the USA, effective March 24, 2026. Confirmation of the dissolution was received on March 26, 2026.Blazeclan Americas Inc. reported a total income of 4.38 crore for the fiscal year 2024-25, representing 0.006% of ITC Limited’s total income for the same period. Its net worth as of March 31, 2025, was 0.63 crore, which accounted for 0.001% of ITC Limited's net worth on that date. The subsidiary became a step-down subsidiary of ITC Limited on October 1, 2024.
| Sl. No. | Particulars | Details |
|---|---|---|
| 1 | The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division or undertaking or subsidiary or associate company of the listed entity during the last financial year. | The Total Income of Blazeclan Americas Inc., USA*, for FY 2024-25 was 4.38 crores (representing 0.006% of the Total Income of ITC Limited for FY 2024-25) and its Networth as on 31 st March, 2025 was 0.63 crore (representing 0.001% of the Networth of ITC Limited as on that date). * Became a step-down subsidiary of the Company with effect from 1 st October, 2024. |
| 2 | Date on which the agreement for sale has been entered into. | Not Applicable. |
| 3 | The expected date of completion of sale / disposal. | Blazeclan Americas Inc. stands dissolved with effect from 24 th March, 2026. |
| 4 | Consideration received from such sale / disposal. | Not Applicable. |
| 5 | Brief details of buyers and whether any of the buyers belong to the promoter / promoter group / group companies. If yes, details thereof. | Not Applicable. |
| 6 | Whether the transaction would fall within related party transactions? If yes, whether the same is done at 'arm's length'. | Not Applicable. |
| 7 | Whether the sale, lease or disposal of the undertaking is outside Scheme of Arrangement? If yes, details of the same including compliance with Regulation 37A of the SEBI Listing Regulations. | Not Applicable. |
| 8 | Additionally, in case of a slump sale, indicative disclosures provided for amalgamation / merger, shall be disclosed with respect to such slump sale. | Not Applicable. |
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