Terai Tea Issues Corrigendum on Associate Company Divestment Transaction
Terai Tea Company Limited has issued a corrigendum to correct the consideration amount for its 47.73% stake divestment in associate company Terai Dooars Tea Co. Pvt Ltd. The corrected amount shows ₹1,70,62,500 instead of the previously disclosed ₹81.43 lakhs, with the transaction completed on March 30, 2026, to buyer Mr. Uday Narayan Sharma.
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Terai Tea Company Limited has issued a corrigendum to correct the disclosure details regarding its divestment of 47.73% shareholding in associate company Terai Dooars Tea Co. Pvt Ltd. The corrected filing, submitted on April 6, 2026, provides updated transaction details following the company's initial disclosure dated April 4, 2026.
Corrected Transaction Details
The corrigendum reveals significant corrections to the previously disclosed transaction information. The company transferred 2,62,500 equity shares representing 47.73% stake to Mr. Uday Narayan Sharma, with the transaction completed on March 30, 2026.
| Transaction Parameter: | Corrected Details |
|---|---|
| Shares Sold: | 2,62,500 equity shares |
| Stake Percentage: | 47.73% |
| Total Consideration: | ₹1,70,62,500 |
| Completion Date: | March 30, 2026 |
| Buyer: | Mr. Uday Narayan Sharma |
Financial Contribution of Associate Company
The associate company's financial contributions to the parent entity remained consistent with previous disclosures. Terai Dooars Tea Co. Pvt Ltd contributed ₹417.95 lakhs to turnover, representing 4.06% of total turnover during the last financial year. The company also contributed ₹198.97 lakhs to net worth, accounting for 1.93% of total net assets.
| Financial Metric: | Amount | Percentage Contribution |
|---|---|---|
| Turnover Contribution: | ₹417.95 lakhs | 4.06% |
| Net Worth Contribution: | ₹198.97 lakhs | 1.93% |
Regulatory Compliance and Disclosure
The company acknowledged that the transaction disclosure was made after the prescribed timeline under SEBI regulations. Terai Tea Company Limited informed the Bombay Stock Exchange and The Calcutta Stock Exchange that the intimation was inadvertently delayed beyond the required timeframe specified in the Master Circular for SEBI Listing Obligations and Disclosure Requirements.
Transaction Structure and Buyer Details
Mr. Uday Narayan Sharma, the acquirer, is not affiliated with the promoter, promoter group, or group companies of Terai Tea Company Limited. The transaction has been classified as a non-related party transaction, ensuring arm's length dealing principles are maintained. The divestment follows regular business practices for share transfers and does not fall under any scheme of arrangement.
Following the completion of this divestment, Terai Dooars Tea Co. Pvt Ltd ceased to be an associate company of Terai Tea Company Limited with effect from March 30, 2026. The corrigendum was signed by Company Secretary & Compliance Officer Rajesh Singhania and submitted to both stock exchanges where the company is listed.
Historical Stock Returns for Terai Tea Company
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.00% | -1.95% | +7.10% | -5.60% | -38.11% | +172.60% |
What strategic initiatives will Terai Tea Company pursue with the ₹17.06 crore proceeds from this divestment?
How will the loss of 4.06% turnover contribution from the divested associate impact the company's revenue growth targets?
Will Terai Tea Company consider acquiring new tea estates or processing facilities to compensate for the reduced operational capacity?
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