ITC has acquired an additional 2,286 equity shares of Delectable Technologies, taking its total stake in the company to 39.32% on a fully diluted basis. The acquisition was made through a secondary purchase of shares from existing shareholders.
The acquisition is a further sign of ITC’s commitment to the vending machine market and its belief in the potential of Delectable Technologies. Delectable Technologies is a leading player in the Indian vending machine market, with a network of over 5,000 vending machines across the country. The company offers a wide range of products through its vending machines, including snacks, beverages, and personal care products.
The acquisition is also a positive development for Delectable Technologies, as it gives the company access to ITC’s resources and expertise. ITC is a leading FMCG company in India, with a strong distribution network and a wide range of products. Delectable Technologies can leverage ITC’s resources and expertise to expand its network of vending machines and offer its customers a wider range of products.
Overall, the acquisition of additional shares in Delectable Technologies by ITC is a positive development for both companies. ITC will benefit from Delectable Technologies’ expertise in the vending machine market, while Delectable Technologies will benefit from ITC’s resources and expertise.
Delectable Technologies
Delectable Technologies is a leading vending machine company in India, with a network of over 5,000 vending machines across the country. The company offers a wide range of products through its vending machines, including snacks, beverages, and personal care products. Delectable Technologies is also developing new vending machines that will offer a wider range of products and services, such as hot food and fresh produce.
Delectable Technologies was founded in 2015 by IIT graduates Sandeep Singh and Rahul Garg. The company has raised over $20 million in funding from investors such as ITC, Matrix Partners, and Accel Partners.
Delectable Technologies is targeting the growing demand for vending machines in India. The Indian vending machine market is expected to grow at a CAGR of over 20% in the coming years, driven by the growth of urbanization, the increasing number of working women, and the rising disposable incomes of consumers.
Delectable Technologies is well-positioned to capture a significant share of the growing vending machine market in India. The company has a strong team of experienced professionals, a wide network of vending machines, and a strong partnership with ITC.
Here are some of the key features of Delectable Technologies:
- Wide range of products: Delectable Technologies offers a wide range of products through its vending machines, including snacks, beverages, and personal care products. The company is also developing new vending machines that will offer a wider range of products and services, such as hot food and fresh produce.
- Convenience: Delectable Technologies’ vending machines are located in convenient locations, such as offices, malls, and transportation hubs. This makes it easy for customers to purchase products from Delectable Technologies’ vending machines.
- Quality: Delectable Technologies sources its products from leading brands and manufacturers. The company also has a team of quality control professionals who ensure that the products offered through its vending machines are of high quality.
- Affordability: Delectable Technologies’ products are priced competitively. This makes it affordable for customers to purchase products from Delectable Technologies’ vending machines.
Overall, Delectable Technologies is a leading vending machine company in India that offers a wide range of products, convenience, quality, and affordability. The company is well-positioned to capture a significant share of the growing vending machine market in India.