The Peria Karamalai Tea & Produce Company Limited has informed the Exchange about Acquisition of Equity Shares of Maharaja Shree Umaid Mills Limited (Unlisted Public Limited Company) pursuant to the Scheme of Amalgamation.
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Peria Karamalai Tea & Produce Company will receive 4,81,98,850 equity shares of Maharaja Shree Umaid Mills Limited (MSUM) as part of a group-level amalgamation approved by NCLT Kolkata on 16 March 2026, effective 25 April 2026. This follows the merger of Placid Limited (a group company in which PK Tea held 17.4254%) and other group companies into MSUM, after which Placid Limited stands dissolved. The swap ratio is 515 MSUM shares of Rs. 10 each for every 1 Placid share of Rs. 100 held, giving PK Tea a 14.8958% stake in MSUM post-merger. MSUM is an unlisted textile company with FY25 turnover of Rs. 599.88 crores, PAT of Rs. 45.51 crores, and net worth of Rs. 796.41 crores. The transaction is a related-party share swap at arm's length, with no cash consideration.
PK Tea shifts from holding an unlisted Placid Limited stake to a ~14.9% stake in MSUM, a larger textile/renewable energy/financing entity within the same LN Bangur Group. For shareholders, this is a passive portfolio reorganisation with no cash outflow, but it increases exposure to the textile sector while diluting direct tea-sector concentration.