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Jay Shree Tea and Industries Ltd enters into agreement with Jimsam Tea Equipments

Our Bureau. Kolkata | Updated on March 04, 2021

 

Jay Shree Tea and Industries Ltd has entered into agreement with Jimsam Tea Equipments Ltd for sale of two of its estates at Valparai in Tamil Nadu for an estimated ₹46 crore.

The estates contributed around five per cent to its total turnover which stood at ₹486 crore in FY-20.

The sale process is expected to be complete by May 2021, the company said in a notification to stock exchange on Thursday.

The company’s board had, in January last year, decided to monetise certain tea estates and or other assets in India or abroad.

Published on March 04, 2021

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