ITC completes acquisition of Century Pulp and Paper from Aditya Birla
ITC Limited finalized the acquisition of Aditya Birla Real Estate's Century Pulp and Paper business on August 1, 2026. The deal involved a slump sale of the entire undertaking, including assets, liabilities, contracts, and staff, based on an agreement signed in March 2025.
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ITC Limited has completed the acquisition of the pulp and paper business of Aditya Birla Real Estate Limited, operated under the name Century Pulp and Paper. The transaction, finalized on August 1, 2026, marks the conclusion of a strategic expansion move for ITC into the pulp and paper sector through the integration of this established operation.
The acquisition was structured as a slump sale on a going concern basis. This means ITC took over the entire business unit—including its assets, liabilities, existing contracts, and employees—as a single operational entity rather than purchasing individual assets. The deal was executed in accordance with the Business Transfer Agreement dated March 31, 2025.
Transaction Details
The completion follows previous disclosures made by ITC to the stock exchanges. The company had earlier informed the markets about the proposed acquisition via letters dated March 31, 2025, and December 17, 2025. The final update confirms that all necessary steps to transfer the business have been concluded.
| Parameter | Detail |
|---|---|
| Acquirer | ITC Limited |
| Seller | Aditya Birla Real Estate Limited |
| Business Acquired | Century Pulp and Paper |
| Transaction Type | Slump sale (going concern) |
| Agreement Date | March 31, 2025 |
| Completion Date | August 1, 2026 |
Regulatory Filings
ITC notified the National Stock Exchange of India Ltd and BSE Ltd of the completion on August 1, 2026. The communication was signed by R. K. Singhi, Executive Vice President & Company Secretary at ITC Limited. The filing also included copies to the Securities Exchange Commission in Washington DC and Societe de la Bourse de Luxembourg, indicating the international regulatory scope of the disclosure requirements for this transaction.
What This Means
By acquiring Century Pulp and Paper as a going concern, ITC gains immediate access to an operational pulp and paper infrastructure without the lead time required to build new facilities from scratch. The inclusion of existing contracts and employees in the slump sale suggests a seamless transition aimed at maintaining continuity in production and customer relationships. This move aligns with ITC’s broader strategy to diversify its revenue streams beyond its core FMCG and hotel businesses.
Historical Stock Returns for ITC
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.83% | -3.27% | -4.70% | -17.61% | -33.65% | +36.32% |
How will the integration of Century Pulp and Paper impact ITC's short-term EBITDA margins given the assumption of existing liabilities?
What specific synergies does ITC expect to realize by combining its FMCG packaging needs with this new pulp and paper production capacity?
How might this acquisition affect competitive dynamics in the Indian paper industry, particularly against rivals like Paperkraft or Uflex?
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