Dhunseri Tea & Industries Limited informed that the company has entered into a Memorandum of Understanding on November 21, 2022, with Warren Tea Limited for the acquisition of three tea estates located in Assam.
The company has agreed to acquire Duamara Tea Estate, Tara Tea Estate, and Deohall Tea Estate.
“The necessary due effect shall be given arising out of net current assets/liabilities/statutory obligations as on the business closing hours of December 31, 2022,” said the company on Monday.
The company has agreed to acquire these estates to enhance production, turnover, and profitability.
The said acquisition will be completed by March 31, 2023.
The company has agreed to acquire Duamara Tea Estate for Rs32.95 crore, Tara Tea Estate for Rs36.50 crore, and Deohall Tea Estate for Rs21.35 crore.
At around 9.36 AM, Dhunseri Tea was trading at Rs221.80, up by 0.91% against previous close of Rs219.80 on NSE. It touched intraday high and low of Rs226 and Rs216 respectively.
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