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Tata Coffee Ltd announces capacity expansion in Vietnam

Posted On: 2023-11-30 14:01:01 (Time Zone: IST)

The Board of Directors of Tata Coffee Limited, at its meeting held on November 30, 2023, has approved the setting up of an additional 5500 Metric Tonnes (MT) Freeze-Dried Coffee facility in Vietnam. This facility is being undertaken by Tata Coffee Vietnam Company Ltd, a wholly-owned subsidiary of the Company.

The expanded capacity will cater to growing demand for the Freezedried product envisaged and saturation of existing capacity.

The expansion project will be carried out at an outlay of USD 53.3 Million (approx. INR 450 crores), which would be sourced from internal accruals and bank financing.

Tata Coffee Limited has entered into a Composite Scheme of Arrangement with Tata Consumer Products Limited ("TCPL") and TCPL Beverages & Foods Limited (whollyowned subsidiary of TCPL) and their respective shareholders and creditors, pursuant to the provisions of Sections 230 to 232 of the Companies Act, 2013, which has recently been approved by Hon'ble National Company Law Tribunals, Bengaluru and Kolkata and the Scheme will be effective once the conditions mentioned in Clause 29 of the Scheme are all satisfied. On the Scheme becoming effective, Tata Coffee Limited shall stand amalgamated with TCPL and hence there will be a change in ownership for Tata Coffee Vietnam Company Limited from Tata Coffee Limited to Tata Consumer Products Limited, subject to such approvals as may be required for this purpose. Consequently, Tata Coffee Vietnam Company Limited will become a wholly-owned subsidiary of Tata Consumer Products Limited.

In view of this, the above proposal for the expansion of Capacity in Tata Coffee Vietnam Company Limited, is also considered and approved by the duly constituted Board Committee of Tata Consumer Products Limited and by the Members' Council of Tata Coffee Vietnam Company Limited.

Shares of Tata Coffee Limited was last trading in BSE at Rs. 276.15 as compared to the previous close of Rs. 275.20. The total number of shares traded during the day was 12999 in over 522 trades.

The stock hit an intraday high of Rs. 277.20 and intraday low of 274.50. The net turnover during the day was Rs. 3585034.00.

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