|
| Exchange Disseminated Time | Jay Shree Tea & Industries Ltd has informed BSE that the Company is in the process of acquiring 100% shares in M.P.Chini Industries Ltd., an unlisted sugar Company with a capacity of 4600 TCD at Majhaulia in Bihar. The Company is also having a cogen of 6 MW for captive use. The acquisition cost of Rs. 112.50 crore (one hundred twelve crore and fifty lac only) is being funded through, a mix of internal accruals and debts. The process of acquisition is likely to culminate in six weeks' time.
The Company has called a Board Meeting on March 30, 2010 to discuss and approve the shareholders agreement for the said purpose. |
|
|