Teloijan Techno Agro Limited entered into an agreement to acquire tea processing business of Duroply Industries Limited (BSE:516003) for INR 220 million on September 24, 2020. The purchase price is subject to adjustments. For the financial year ended March 31, 2020, Tea processing business generated total revenue of INR 215.4 million and negative total common equity of INR 27 million. The transaction is subject to the approval of the shareholders of Duroply Industries Limited and receipt of regulatory approvals. The transaction was approved by the Board of Duroply Industries Limited. The transaction is expected to close within 3 months subject to receipt of regulatory approvals.