Saturday , October 23 2021

Dhunseri Tea touches roof on getting nod to sell its branded tea business for Rs 101 crore

Mumbai : Dhunseri Tea & Industries is currently trading at upper circuit of Rs. 274.55, up by 45.75 points or 20.00% from its previous closing of Rs. 228.80 on the BSE. The scrip opened at Rs. 266.00 and has touched a high and low of Rs. 274.55 and Rs. 265.00 respectively. So far 13144 shares were traded on the counter. The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 344.80 on 20-Jun-2018 and a 52 week low of Rs. 203.05 on 13-Feb-2019.

Last one week high and low of the scrip stood at Rs. 274.55 and Rs. 228.80 respectively. The current market cap of the company is Rs. 160.27 crore. The promoters holding in the company stood at 67.13%, while Institutions and Non-Institutions held 5.36% and 27.51% respectively.

Dhunseri Tea & Industries has received board’s approval to enter into a non-binding term sheet to sell its branded tea business presently undertaken under the brands ‘LALGHORA’ and ‘KALAGHORA’ for an aggregate consideration of Rs 101 crore. The Board of Directors of the Company at its meeting held on April 23, 2019 has approved the same.

The proposed sale shall be subject to due-diligence by the buyer including definitive binding agreements and applicable statutory / regulatory approvals. Dhunseri Tea and Industries is engaged in tea production. It provides packaging and blending units are located in Dhunseri Tea Estate (Assam) and at Jaipur (Rajasthan).

Please share this news
<div id="taboola-below-article-thumbnails"></div>
<script type="text/javascript">
  window._taboola = window._taboola || [];
    mode: 'thumbnails-a',
    container: 'taboola-below-article-thumbnails',
    placement: 'Below Article Thumbnails',
    target_type: 'mix'