The Grob Tea Co Ltd has approved the acquisition of 100% equity shares of Bazaloni Group Limited for ₹72.16 crore to expand its presence in the tea industry. The transaction, approved by the Board on July 1, 2026, will make Bazaloni Group a wholly-owned subsidiary, enhancing the company's growth, revenue, and profitability. The acquisition follows a Memorandum of Understanding signed on November 25, 2025, with the Share Purchase Agreement now recording final and binding terms after procedural delays prevented the original March 31, 2026 completion target.

Acquisition Overview

The Board of Directors approved the Share Purchase Agreement (SPA) with the existing shareholders of Bazaloni Group Limited. The total consideration of ₹72,16,18,000 will be paid in cash at a price of ₹452 per share. The acquisition involves the purchase of the entire 15,96,500 equity shares of ₹10 each, representing 100% of the shareholding. The transaction is not a related party transaction, and the promoters or group companies have no interest in the target entity. The company expects to complete the acquisition by July 31, 2026.

Target Entity Profile

Bazaloni Group Limited, incorporated on June 30, 1977, is primarily engaged in the business, manufacture, and sale of tea. The entity operates the "Bazaloni Tea Estate" in Assam, which includes the Rajgarhali and Bazaloni divisions spread over approximately 1000 hectares. The estate produces an estimated 3 million kilograms of premium CTC tea annually and employs over 4,000 people.

Financial Performance

The target company has demonstrated consistent growth in turnover over the past three years. The turnover for the financial year 2025-2026 stood at ₹52.78 crore, up from ₹49.99 crore in 2024-2025 and ₹45.84 crore in 2023-2024. The acquisition will allow The Grob Tea Co Ltd to leverage the established infrastructure and production capabilities of Bazaloni Group.

grob tea company has fixed Tuesday, August 4, 2026, as the record date to determine shareholder entitlement for the final dividend of ₹2 per equity share for the financial year 2025-26. The dividend is subject to the approval of shareholders at the Annual General Meeting (AGM). The company announced that the register of members and share transfer books will remain closed from Wednesday, August 5, 2026, to Tuesday, August 11, 2026, for the purpose of the AGM and determining dividend entitlement.

AGM Schedule and E-voting

The AGM is scheduled to be held on Tuesday, August 11, 2026, at 02:00 P.M. via Video Conference and Other Audio Visual Means. The meeting will take place at the Registered Office of the Company at "Haute Street", 9th Floor, 86A, Topsia Road, Kolkata – 700046. Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the record date of August 4, 2026, also serves as the cut-off date to determine the eligibility of members to vote by remote e-voting or e-voting at the AGM.

Dividend Details

The Board of Directors recommended the final dividend of ₹2 per equity share on the face value of ₹10 each in its meeting held on May 13, 2026. If approved by shareholders, the payment of the dividend will be made within 30 days from the date of approval, subject to deduction of tax at source.

The key dates and parameters are summarised below: