Jay Shree tea to buy sugar co for Rs 113 cr

City-based Jay Shree Tea and Industries, a BK Birla group company, on Monday said it will acquire unlisted sugar firm MP Chini Industries for Rs 113 crore by the next month.

City-based Jay Shree Tea and Industries, a BK Birla group company, on Monday said it will acquire unlisted sugar firm MP Chini Industries for Rs 113 crore by the next month.

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Jay Shree Tea informed this to the Bombay Stock Exchange (BSE).

MP Chini, with a capacity of 4,600 TCD (tonnes of cane per day) at Majhaulia in Bihar, is having a cogeneration capacity of six megawatt for captive use.

The acquisition cost is being funded through a mix of internal accruals and debts.