Dhunseri Tea and Industries Ltd is looking to buy at least two-three estates in Assam for which it wants to pay with stock. Dhunseri currently owns 11 estates in Assam. The company is currently debt-free, and wants to preserve cash to inject it into the operations of the acquired estates. Managing director Chandra Kant Dhanuka said Dhunseri does not want to take loans to acquire the plantations, which will likely require a cash infusion for revival. The promoters, the Dhunseri family, currently, own 62.47% of the company.

Source: Mint August 11, 2016 19:30 UTC