McLeod Russel has executed a Memorandum of Understanding (MoU) to dispose of its Corramore Tea Estate assets in Assam for ₹26.16 crore, marking a key step in its debt restructuring process. The transaction is structured as part-payment of debt under a sanction letter from National Asset Reconstruction Company Limited (NARCL), acting through India Debt Resolution Company Limited (IDRCL). This move aims to reduce leverage by monetizing non-core or specific estate assets in compliance with the broader resolution framework.

The disposal was approved by the Tea Estates Committee of the Board of Directors during its meeting held on August 6, 2026. The company entered into the MoU with Krishnabehari Tea Co Ltd, which does not belong to the promoter group or group companies, ensuring the transaction is at arm's length. The deal is subject to due diligence and necessary regulatory approvals, with the definitive agreement for sale expected to be completed by October 31, 2026.

The Corramore Tea Estate contributed ₹1,744.25 lakhs to the company’s total turnover in FY25-26, accounting for 1.80% of overall revenue. While the asset represents a modest share of total sales, its disposal aligns with strategic efforts to optimize the balance sheet amid financial restructuring. The consideration of ₹26,16,25,000 is exclusive of applicable taxes and outstanding statutory dues, with final adjustments based on current assets and liabilities as on the date of the definitive agreement.

The transaction falls outside any Scheme of Arrangement but requires shareholder approval in compliance with Regulation 37A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Section 180(1)(a) of the Companies Act, 2013. McLeod Russel is currently in the process of obtaining these requisite approvals along with other statutory clearances. The disclosure was made pursuant to Regulation 30 of SEBI LODR, 2015, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

What the Numbers Show

The sale of an asset contributing just 1.80% of turnover for ₹26.16 crore suggests a valuation that may reflect distress pricing or strategic urgency rather than pure market value, typical in NARCL-led resolutions. By offloading this specific estate, McLeod Russel reduces operational complexity while adhering to creditor mandates. The relatively small revenue impact indicates the company is targeting specific liabilities rather than core revenue-generating units, preserving larger operations for ongoing business continuity.

McLeod Russel India Ltd's equity shares have been delisted from the Calcutta Stock Exchange (CSE) effective July 17, 2026. The voluntary delisting was approved by the exchange following an application submitted by the company's Board of Directors. This move does not impact the company's listing status on other major stock exchanges.

The delisting was executed under the SEBI (De-listing of Equity Shares) Regulations, 2021. The CSE issued a notice, Ref. No. CSE/LD/DL/18156/2026, on July 16, 2026, confirming the approval. Consequently, the shares bearing CSE Scrip Code 23930 and 10023930 have been removed from the official list of the exchange.

mcleod russel had initially decided to file for voluntary delisting from the CSE during a Board Meeting held on August 14, 2025. The recent approval marks the conclusion of this process. The company's shares will continue to be traded on BSE Limited (Scrip Code: 532654) and National Stock Exchange of India Limited (Scrip Code: MCLEODRUSS).

The disclosure confirms that the delisting from the CSE will have no material impact on the shareholders. Trading and liquidity for the company's equity shares remain unaffected on the BSE and NSE platforms. A copy of the CSE notice has been made available on the company's official website.