ITC to acquire 16% stake in D2C brand Mother Sparsh

Conglomerate ITC on Friday said it will acquire a 16 per cent stake in Mother Sparsh, a D2C Ayurvedic and natural personal care brand, for Rs 20 crore through a share subscription agreement.

Mother Sparsh is a premium Ayurvedic and natural personal care start-up in the D2C space, focusing on mother and baby care segments.

“The said acquisition will, inter alia, enable access to the fast-growing direct to consumer (D2C) space in the ‘personal care’ category, which has been identified by the company as an area of interest,” ITC said in a regulatory filing.