ITC to amalgamate Sresta, Wimco, take control of Sresta's UAE, US arms
This story was originally published at 14:38 IST on 7 May 2026
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MUMBAI – ITC Ltd. Thursday said it will gain direct control of two foreign subsidiaries, Sresta Global FZE in the United Arab Emirates and Fyve Elements LLC in the US, from Jun. 1. The foreign companies, which were step-down subsidiaries of ITC earlier, will become direct wholly owned subsidiaries once a scheme of amalgamation between ITC, Sresta Natural Bioproducts Pvt. Ltd., and Wimco Ltd. takes effect.
The amalgamation, which was announced in August, was approved by the National Company Law Tribunal, as per ITC's press release. After Jun. 1, Sresta and Wimco will be dissolved without winding up and, accordingly, cease to be subsidiaries of ITC. At 1430 IST, shares of ITC were down 0.5% from Wednesday at INR 309.15 on the National Stock Exchange. For the December quarter, the company had reported a net profit of INR 50.89 billion on revenues of INR 193.59 billion. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Prateem Rohanekar
Edited by Rajeev Pai
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