The final agreement for sale will be entered into by the vendor and the purchaser through the formation of a partnership firm.
December 15, 2022 1:45 IST | India Infoline News Service
Dhunseri Tea & Industries Limited informed that the company entered into a Memorandum of Understanding on December 14, 2022, for the sale of 'Khagorijan Tea Estate' 'on as is where is basis', jointly to Messers, Sahdev Singh Kushwah, Sanwar Mal More and Nikhil Agarwalla.
The final agreement for sale will be entered into by the vendor and the purchaser through the formation of a partnership firm or LLP on or before the execution of the sale agreement.
The sale consideration has been agreed at Rs 15 crore, subject to adjustment for the value of Current Assets and Current liabilities as of the date of completion of the sale and due diligence, said the company in an exchange filing.
Khagorijan Tea Estate has a total turnover of Rs 23.34 crore in the previous financial year.
Recently, Dhunseri Tea has also acquired 3 three estates in Assam to bolster its production.
At around 1.50 PM, Dhunseri Tea & Industries was trading at Rs241.40, up by 0.60% against previous close of Rs239.95 on NSE. The counter touched an intraday high and low of Rs248.45 and Rs238.05 respectively.