ITC Ltd Amalgamation Scheme Sanctioned by NCLT; Subsidiaries to Integrate by June 2026
ITC Ltd has announced that the Scheme of Amalgamation involving its subsidiaries, Sresta Natural Bioproducts Private Limited and Wimco Limited, with the company has received sanction from the National Company Law Tribunal (NCLT), covering both the Kolkata and Hyderabad Benches.The sanction confirms the amalgamation of Sresta Natural Bioproducts Private Limited (Sresta) and Wimco Limited (Wimco) with ITC Ltd.
The company noted that Sresta and Wimco have mutually confirmed that all conditions stipulated in the Amalgamation Scheme have been fulfilled. This confirmation sets out the specific dates for the scheme's operational phase.
A table summarizing the key timelines for the amalgamation is provided below:
| Entity | Appointed Date | Effective Date |
|---|---|---|
| Sresta Natural Bioproducts Private Limited | June 13, 2025 | June 1, 2026 |
| Wimco Limited | April 1, 2025 | June 1, 2026 |
According to the scheme, the Effective Date for the amalgamation is set as June 1, 2026.
Effective from June 1, 2026, Sresta and Wimco will be dissolved without winding up, thereby ceasing to function as subsidiaries of ITC Ltd. Furthermore, two existing subsidiaries of Sresta, namely Sresta Global FZE, UAE, and Fyve Elements LLC, USA, will transition to become direct wholly owned subsidiaries of ITC Ltd.
ITC Stock Price Movement
As of 12:51 PM, shares of ITC Limited are slipping by 0.14% in live trading, currently at ₹310.25 as the market operates. The stock is moving amidst strong buying interest, supported by a volume of 7.69 million shares traded throughout the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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