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Asian Tea & Exports Ltd has informed stock exchanges about an internal restructuring within its promoter group. Greenex Chemicals Pvt Ltd (transferor) has merged with IBM Finance and Investment Pvt Ltd (transferee) as per an NCLT Kolkata order dated 19 June 2025. Consequently, Greenex's entire holding of 28,35,982 equity shares, representing 11.37% of the company's paid-up share capital, has been transferred to IBM Finance effective 10 March 2026 through an off-market transaction. Greenex's holding in Asian Tea has gone to NIL, while IBM Finance now holds 11.37%. The total promoter group shareholding in the company remains unchanged at 11.37% as it is only a shift between two promoter group entities.
This is a paper restructuring within the promoter group and not a change in the ultimate promoter ownership of the company. Shareholders should see no impact on promoter group control or share price, as the same set of people continue to control the same 11.37% stake, now held through IBM Finance instead of Greenex Chemicals.