The sale process is expected to be completed by February 14, 2020.
Jayshree Tea and Industries share price rose 10 percent intraday on January 17 as the company decided to sell stake in two of its tea estates in Africa.
The company has entered into a definitive agreement with Grand Lacs Trading SA, Belgium, to sale stake in Mata and Gisakura tea estates in Rwanda.
The sale is expected to be completed by February 14, 2020.
At 1342 hours, Jayshree Tea and Industries was quoting at Rs 57.50, up Rs 3.65, or 6.78 percent on the BSE.
The share touched its 52-week high of Rs 84.40 January 16, 2019 and 52-week low of Rs 39.95 on August 23, 2019.It is trading 32.46 percent below its 52-week high and 42.68 percent above its 52-week low.
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