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Tata Tea rejigs NIPO biz
Tata Tea rejigs NIPO biz
<b>Tata Tea forms new firm for plantations</b><br><br> Tata Tea on Monday said it would offload 80% of its stake in its North India Plantation Operations to a group of investors and employees.<br><br> While Tata Tea will retain 20% stake in the new company, IL&FS and Infrastructure Finance Corporation (IFC), will also pick up 20% stake each in the company.<br><br> R K Krishna Kumar, vice-chairman, Tata Tea, said the company had permission to plant non-tea crops in 5% of the area in Assam, where the company had already entered floriculture, vegetable farming, spices and fisheries.
<b>Tata Tea forms new firm for plantations</b><br><br> Tata Tea on Monday said it would offload 80% of its stake in its North India Plantation Operations to a group of investors and employees.<br><br> While Tata Tea will retain 20% stake in the new company, IL&FS and Infrastructure Finance Corporation (IFC), will also pick up 20% stake each in the company.<br><br> R K Krishna Kumar, vice-chairman, Tata Tea, said the company had permission to plant non-tea crops in 5% of the area in Assam, where the company had already entered floriculture, vegetable farming, spices and fisheries.