CURRENT AFFAIRS

Detailed explanation-1: -ITC Ltd has entered into a share purchase agreement (SPA) to acquire 100 per cent of the equity share capital of Sunrise Foods Private Limited (SFPL), a company primarily engaged in the business of spices.

Detailed explanation-2: -"But necessary, ” said Mayank Bhardwaj, managing director and CEO of Kolkata-based Sunrise Foods and a fourth-generation member of the family.

Detailed explanation-3: -The deal size though was not being revealed yet, but as per the available information, Sunrise has a turnover of around Rs 600 crore and a paid-up equity of Rs 4 crore. Kolkata-based Sunrise is a market leader in eastern India in the fast-growing spices category with a rich heritage and brand legacy of over 70 years.