Tata Global Beverages Limited has entered into a non-binding term sheet to acquire the branded tea business of Dhunseri Tea & Industries Limited, for an aggregate consideration of up to Rupees One Hundred and One Crores.
The proposed acquisition shall be subject to due-diligence, signing of definitive binding agreements and applicable shareholder, statutory/ regulatory and other third-party approvals, as may be applicable.
The branded tea business of Dhunseri Tea and Industries Limited is presently carried out under the brands "Lalghoda" and "Kalaghoda" which are among the leading local brands in Rajasthan, a market which is dominated by local players.
Shares of Tata Global Beverages Limited was last trading in BSE at Rs.209.6 as compared to the previous close of Rs. 209.05. The total number of shares traded during the day was 179626 in over 1382 trades.
The stock hit an intraday high of Rs. 211.05 and intraday low of 203.95. The net turnover during the day was Rs. 37289917.