On Monday, three TCPL shares of every ten shares of Tata coffee will be merged in 12-14 months, as per the company statement. Also, “It would take about 12 to 14 months. So that’s the timeline,” Tata Coffee Ltd ED & CFO K Venkataramanan said in the report.
- Sri Lanka Struggles to Stay Neutral Amid India-China Tensions
- New Wildfire Warnings and Power Shutdowns as Winds Increase in Southern California
- Meta Warns India’s Antitrust Ruling Could Impact Features and Business
- India’s Trade Deficit Shrinks to $21.94 Billion in December
- What To Expect From Stallion India Fluorochemicals IPO: Latest GMP & Share Price
All businesses of Tata Coffee will be merged with TCPL, or its part of subsidiaries will be part of the reorganization with a strategic plan of unlocking synergies and efficiencies. In this given scheme, all the shareholders of Tata Coffee will receive an aggregate of three equity shares for every ten equity shares be held by them.
As per Venkataramanan, “Tata Coffee has got a healthy order book, and customers are asking for continuing the shipments.”
“Coffee being something ubiquitous and widely drunk beverage, that impact is not going to be felt, that’s our view,” the company said.
