Execution of Non-Binding MoU for sale of Leesh River Tea Estate of the Company.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Goodricke Group has signed a non-binding MoU with Kolkata-based SOMBARIA AGRI PRODUCTS PVT LTD to sell its Leesh River Tea Estate on an 'as is, where is' basis. The deal is valued at Rs. 26.50 crore (excluding taxes), subject to adjustments for current assets and liabilities after due diligence. The estate contributed Rs. 28.23 crore, or 3.43% of the company's total turnover, in FY 2023-24, with an average annual own crop of 9.10 lakh kgs of tea. The buyer is not a related party or part of the promoter group, and the transaction is being done at arm's length. A definitive agreement is expected by 31st May 2025, pending satisfactory due diligence and required approvals.
The sale is of a single, relatively small tea estate (3.43% of revenue) and is unlikely to materially affect Goodricke's overall business, though it will bring in Rs. 26.50 crore of cash. The non-binding nature means the deal is still uncertain and depends on due diligence and approvals.