MoU signed to sell Corramore Tea Estate for Rs 26.16 cr debt repayment

Core business divestedStrategic Transactions View source PDF Explain this filing

MCLEODRUSS · price

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Price reactionminutes from the announcement price · days from the prior close

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₹46.71

prior close

₹46.55

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.0%+5.0% vs market

On the reaction day the stock moved 5.0 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

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Next day

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AI summary

McLeod Russel India approved an MoU on 6 Aug 2026 to sell its Corramore Tea Estate in Assam to Krishnabehari Tea Co Ltd for Rs 26.16 cr, as part-payment of debt under a NARCL/IDRCL debt restructuring sanction. The estate contributed 1.80 percent of FY26 turnover (about Rs 17.44 cr). Deal expected by 31 Oct 2026, subject to due diligence, shareholder approval and other clearances. Buyer is not a related party.

Likely market impact

Asset sale helps cut debt burden; minor revenue impact at 1.80 percent. Subject to shareholder and other approvals, could ease debt resolution concerns.