ITC Ltd. has received regulatory approval for its strategic acquisition in the paper sector. The Competition Commission of India (CCI) has approved the company's proposed acquisition of the pulp and paper business of Aditya Birla Real Estate Ltd. (ABREL) for Rs 3,498.00 crore.

Regulatory Approval Received

In a regulatory filing dated December 17, 2025, ITC announced that the CCI has granted approval for the acquisition through a letter dated December 16, 2025. The approval covers the acquisition of Century Pulp and Paper (CPP) as a going concern on a slump sale basis.

About Century Pulp and Paper

Century Pulp and Paper represents a significant addition to ITC's paper portfolio. The company details include:

Strategic Business Impact

The acquisition aligns with ITC's expansion strategy in the paperboards and packaging segment. The company's paperboards and packaging division has demonstrated strong performance, generating a free cash flow of Rs 4,000.00 crore during FY20-24.

Transaction Timeline

The deal progression shows systematic regulatory compliance. ABREL's board had approved the business transfer agreement in March 2025 for the divestment. Both companies had earlier expressed confidence that the transaction would not raise competition concerns due to the highly competitive nature of the paper industry.

Market Implications

For ITC, this acquisition strengthens its position in the pulp and paper sector, complementing its existing paperboards and packaging operations. For ABREL, the divestment represents a value-unlocking exercise, allowing focus on core real estate business activities.

With CCI approval now secured, ITC can proceed with completing this strategic acquisition that enhances its manufacturing capacity and market presence in the paper industry.

ITC Limited has successfully concluded its postal ballot process, with shareholders approving two significant board appointments that will shape the company's leadership structure. The diversified conglomerate announced the results on December 16, 2025, following the completion of e-voting that ran from November 16 to December 15, 2025.

Approved Appointments

Amitabh Kant Appointed as Independent Director

Shareholders have approved the appointment of Mr. Amitabh Kant as an Independent Director for a five-year term effective from January 1, 2026. The 69-year-old retired IAS officer brings over four decades of administrative experience to ITC's board.

Kant has held several prestigious positions including Secretary to the Department of Industrial Policy and Promotion, CEO of Delhi Mumbai Industrial Corridor Development Corporation, and Tourism Secretary to the Government of Kerala. He has authored books including "Made in India," "Incredible India 2.0," and "Branding India - An Incredible Story."

Hemant Malik Re-appointed as Wholetime Director

Shareholders have also approved the re-appointment of Mr. Hemant Malik as a Wholetime Director for a two-year term effective from August 12, 2026. The 59-year-old executive currently serves as Divisional Chief Executive of the Foods Business Division.

Malik has extensive experience across multiple ITC businesses including Tobacco & Foods and the Trade Marketing & Distribution (TM&D) Vertical. He was instrumental in launching and developing key food brands including Aashirvaad, Sunfeast, Bingo, YiPPee, and Kitchens of India.

Remuneration Structure

The approved remuneration packages reflect the strategic importance of these appointments:

Strategic Implications

These appointments represent ITC's commitment to combining seasoned governance expertise with operational excellence. Kant's extensive policy-making background and economic reform experience are expected to provide valuable strategic insights, while Malik's re-appointment ensures continuity in ITC's successful FMCG operations.

The company has confirmed that both directors have not been debarred from holding directorship positions by SEBI or any other regulatory authority, ensuring compliance with corporate governance standards.