ITC LIMITED lTC Limited
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Enduring Value
Fax : 91 33 2288 4016 I 1256 I 2259 I 2260
21st April, 2022
The Manager Listing Department National Stock Exchange of India Ltd.
The General Manager Dept. of Corporate Services BSE Ltd.
The Secretary
The Calcutta Stock Exchange Ltd.
Exchange Plaza,
Plot No. C-1, G Block Bandra-Kurla Complex Bandra (East) Mumbai 400 051
P. J. Towers Dalal Street Mumbai 400 001
7, Lyons Range Kolkata 700 001
Dear Sirs,
Agreement to acquire up to 10.07% of the share capital of
Blupin Technologies Private Limited
Enclosed please find disclosure on the subject matter, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
A copy ofthe media statement being issued is also enclosed.
(R. K. Si ghi)
Executive Vice President & Company Secretary
Encl: as above.
FMCG • HOTELS • PAPERBOARDS & PACKAGING • AGRI-BUSINESS • INFORMATION TECHNOLOGY
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Enduring Value
cc:
Securities Exchange Commission
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Societe de la Bourse de Luxembourg 35A Boulevard Joseph II
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Enduring Value
EnclosureSl. No. 1.
Particulars
DisclosuresName of the target entity
Blupin Technologies Private Limited ('Mylo').
2.
Whether the acquisition would fall within related party transaction(s) and whether the promoter I promoter group I group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at 'arm's length'
No.
3.
Industry to which the entity being acquired belongs
Web and app-based Content-to-Community-to-Commerce platform; mother and baby care products and services operating under the brand name 'Mylo'.
4.
Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)
The Companyhasentered into
(i) Share Subscription Agreement,
(ii) Share Purchase Agreement, and
(iii) Shareholders' Agreement on 201h April, 2022 to acquire up to 10.07% ofthe share capital ofMylo (on a fully diluted basis), subject to completion of conditions precedent.
The said investment will provide the Company an early mover advantage m the evolving Content-to-Community-to-Commerce space and will provide an expanded presence in the D2C (direct-to-consumer) space.
5.
Brief details of any governmental or regulatory approvals required for the acquisition
None.
6.
Indicative time period for completion of the acquisition
The share acquisition is expected to be completed within 45 (forty five) days from the date of execution of the Agreements referred to in (4) above.
7.
Nature of consideration - whether cash consideration or share swap and details of the same
Cash.
Eaclaring Value
Sl. No. | Particulars Disclosures |
8. | Cost of acquisition or the price at which Not exceeding~ 39.34 crores. the shares are acquired |
9. | Percentage of shareholding I control Up to 10.07% of the share capital of Mylo acquired and I or number of shares (on a fully diluted basis) is proposed to be acquired acquired (400 Equity Shares and 2,980 Compulsorily Convertible Participating Preference Shares). |
10. | Brief background about the entity Mylo, a full stack community eco-system focused acquired in terms of products I line of on the parenting journey of young families, business acquired, date of incorporation, addresses the needs of its consumers through a history of last 3 years turnover, country wide and relevant range of content, health tools, in which the acquired entity has presence conversations and community sharing features. and any other significant information Beyond personalised content and an active (in brief) community, Mylo also offers its users D2C products and services in the mother & baby care segment. Other details are as follows: Products I line of As stated above business of the target entity Date incorporation of 1st February, 2017 Last 3 years' turnover
Country operations of India |
care
Mylo acquired Compulsorily
focused
families,
a
tools,
features.
active
D2C
A
Enduring Value
Media Statement
lTC to invest in D2C Community-Commerce Brand Mylo
To acquire 10% in the Mother and Child Care Company
lTC proposes to acquire 10% stake in Blupin Technologies Private Limited, the company behind brand Mylo. Founded in 2017, Mylo, is a full stack community eco-system focused on the parenting journey of young families. Mylo addresses the needs of its consumers through a wide and relevant range of content, health tools, conversations and community sharing features. Beyond personalised content and an active community, Mylo also offers its users direct-to-consumer (D2C) personal care brands.
With this investment, lTC will further expand its presence in the D2C mother and baby care segment. In November 2021, the Company had announced its investment in Mother Sparsh Baby Care Private Limited, an ayurvedic and natural personal care brand in the D2C space with a focus on the mother and baby care segment.
This investment will provide lTC an early mover advantage in the evolving Content-to-Community-to-Commerce space, which is expected to emerge as a platform of the future. The 'lTC Next' strategy articulated by Chairman Sanjiv Puri, which focusses on agility, consumer-centricity and future-readiness amidst a digital-first culture has identified such value accretive opportunities as a vector of growth.
Commenting on the development, Mr Sameer Satpathy, Chief Executive, Personal Care Products Business, lTC said, "Within a short period of time, Mylo has demonstrated great potential in the evolving Content-to-Community-to-Commerce model by nurturing an online platform where people learn, share, trust and belong. The investment will provide lTC the opportunity to foray into this emerging space and become an integral part of the evolution ofthis area. Our investment in Mylo will also enable us to strengthen focus in the mother and baby community building platform, besides expanding our presence in the D2C mother and child care segment."
Speaking on the investment from lTC, Mr. Vinit Garg, Founder and CEO, Blupin Technologies Private Limited, said, "We are delighted that lTC has put its faith in the Mylo brand and community, which has grown at a remarkable pace since inception. lTC has been an exemplar in leveraging the power of innovation and digitalisation to create winning brands. We are confident that this partnership will further provide unique synergies and competitive strengths to scale our business."
Mylo has a content and community first approach that aCts as a key differentiator for the brand. The model focuses on a creating a wide range of useful content and digital health tools across different life stages of the expectant and young mothers, driving community-conversions for its Mylo range of products and service. With a Learn-Share-Buy philosophy, the brand has been able to drive high engagement amongst its users, leading to a strong conversion to purchase and high consumer retention. Till date, the platform has over 22 lakh questions and 1.6 crore answers along with over 3.7 crore content pieces that drive engagement.
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ITC Limited published this content on 21 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 April 2022 06:34:08 UTC.
