Jay Shree Tea to divest Assam unit, IT centre

Kolkata ( Calcutta ) : B K Birla-controlled Jay Shree Tea & Industries has decided to divest its bought leaf (tea) factory in Assam and infotech centre in West Bengal, as part of its restructuring plans.

According to an official release issued by the company to the BSE today, the company has informed that it would seek shareholders’ approval through postal ballot to approve divest/demerge/sale/transfer/lease the bought leaf factory and infotech centre.

Sources close to the development said, whether it would be sold or leased would depend on the buyer. Jay Shree Tea has tea production capacity of around 20 million kilograms, across North and South India and is only selling a bought leaf factory from its portfolio, whereas, the infotech centre could not make much headway as the size of operations was not viable. The call centre was located at Salt Lake, the IT hub in Kolkata.

Source: Business Standard