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Our Bureau

Kolkata, Aug. 29 Ms Jayshree Mohta, daughter of Mr B.K. Birla and a director of Jay Shree Tea, who has been buying Jay Shree Tea shares in the last couple of months, has mopped up around 2.22 per cent of voting rights till the last disclosure by the company to the BSE.

Ms Mohta, who is reportedly tipped to inherit control of the tea company from Mr Birla, has bought around 2.37 lakh shares from the market. Till June 30, 2008, she only had 3,972 shares in her name, less than the 16,200 shares Mr Birla’s other daughter, Ms Manjushree Khaitan, held.

Mr Birla himself had 13,500 shares, while Mr Kumar Mangalam Birla personally held around 2,250 shares in Jay Shree Tea.

According to company records, the promoter group had a total of 39.08 per cent stake in Jay Shree Tea as on June 30. Holding of the three investment companies of the promoters accounted for around 33.56 per cent.

Jay Shree is predominantly a tea company having 20 gardens in Assam, West Bengal and Tamil Nadu. It also produces fertiliser — single super phosphate. The company has recently amalgamated some of its group tea companies and hived off the infotech division into a separate company.

The B K Birla group company has been seeing significant appreciation in share price from its March 24 levels after the acquisition of West Bengal-based Jayantika Tea Company in June.

According to market sources, Ms Mohta bought shares between July 31 and August 19. Around this time, the counter saw an increase in traded quantity and delivery volumes too. Since then, however, activity has waned and the price level has also come down.

The stock on Thursday closed at Rs 157.65, down 4 per cent. In the last one week, the stock has shed around 5 per cent.

More Stories on : Stocks | Tea | Mergers & Acquisitions

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