Promoters and promoter companies agreed to acquire Gloster Real Estates Pvt. Ltd. from Joonktollee Tea & Industries Limited (BSE:538092) for INR 47.8 million in cash on January 19, 2017. After the completion of the transaction Gloster Real Estates Pvt. Ltd. ceased to be a wholly owned subsidiary of Joonktollee Tea & Industries Limited. The shareholders of Joonktollee approved the transaction. Kothari & Company acted as independent valuer in this transaction.