{{Mcleod Russel India under its Borelli Tea Holdings Ltd. (Borelli),has taken full management of Gisovu Tea Company pending completion of certain formalities.}}
The said formalities having been completed, Gisovu has issued 12,740 Ordinary shares of RWF 1,00,000 each being 60% of the paid-up share capital of the said Company to Borelli on December 01, 2011.
With the issue of the above shares to Borelli, Gisovu has become a subsidiary of Borelli and a step-down subsidiary of Mcleod Russel India Ltd.
The Mcleod Russel India Ltd stock closed the day at Rs.226.75, up by Rs.5.80 or 2.63%. The stock hit an intraday high of Rs.228.95 and low of Rs.223.25
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