Tata Coffee Merger: Tata Coffee and Tata Consumer Products will merge on this day, know what will happen to the stockholders

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Tata Coffee merger with Tata Consumer Products: Tata Consumer Products Limited (TCPL) and TCPL Beverages and Foods are going to merge. This merger is going to be effective from January 1. After this merger, Tata Coffee Limited will cease to exist. In the exchange filing, Tata Coffee has said which shareholders of Tata Coffee will be allotted the equity shares of TCPL as per the demerger and amalgamation in accordance with Clause 13.1 and Clause 20.1. For this, the company has fixed January 15, 2024 as the record date. In the year 2022, a vote of shareholders of Tata Consumer Products Limited, Tata Coffee and TCPL Beverages and Foods was held. In this, the reorganization plan of all three companies was approved. The company said in its BSE filing that the board of directors of TCL, the plan implementation committee of the board of TCPL and the board of directors of TBFL have accepted that the conditions under clause 29 of the plan include filing of certified copies of the order with the Registrar . Companies having Form INC-28 duly completed. Accordingly, in terms of the Scheme, the appointment date and effective date of the Scheme is January 01, 2024.

Shares jumped sharply

The action of the news of merger was seen on the shares of the company. On Friday, shares of Tata Consumer Products Limited were trading at Rs 1,071.50 with a rise of 2.93 percent or Rs 30.50 at 10.18 am. Whereas, Tata Coffee shares were trading at Rs 318.70 with a rise of 3.34 percent i.e. Rs 10.30. At the same time, after receiving information in the exchange on Thursday, shares of Tata Coffee reached Rs 309.05. However, at the time of closing, the shares closed at Rs 308.4 with a gain of 1.41 percent. At the same time, the stock of Tata Consumer Products closed at the day’s highest level of Rs 1,048.55 with a gain of 2.12 percent.

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