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Asian Tea -; Exports acquires 'Herbby Tea Plantations' as wholly-owned subsidiary

21 Nov 2022 , 09:20 AM

Asian Tea & Exports Limited has informed the acquisition of 100% equity shares of Herbby Tea Plantations Private Limited.

Accordingly, Herbby Tea Plantations Private Limited has become a wholly owned subsidiary of Asian Tea & Exports Private Limited with effect from October 21, 2022.

As per the filing, the new industry belongs to manufacturing of Tea & other beverages and its business operation is yet to commence.

HTPPL has been acquired as wholly owned subsidiary by the company to expand the business operation.

The Company has acquired 9999 Equity Shares (Nine Thousand Nine Hundred Ninety Nine at the face value of Rs10/-( Rupees Ten only) each aggregating to Rs99990/- (Ninety Nine Thousand Nine Hundred Ninety only) in cash. Balance 1 equity shares at the face value of Rs10/- are held by Hariram Garg, as nominee of the company, the company said.

At around 9:19 AM, Asian Tea & Exports was trading at Rs12.90 per share lower by 1.15% on the BSE.

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