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