457.50 -10.60(-2.26%)
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STEL Holdings Limited, erstwhile known as Sentinel Tea and Exports Limited, was incorporated in 1994 to carry on the business of export of tea and other related things. The Company is the part of RPG and RPSG group enterprises one of the largest business conglomerates in India. It was earlier a 100% subsidiary of Harrisons Malayalam Ltd. Later on, STEL Holdings Limited was formed consequent to the Composite Scheme of Arrangement approved by the Hon'ble High Court of Kerala in 2010. Harrisons Malayalam Limited (HML) had four wholly owned subsidiaries namely Harrisons Malayalam Financial Services Limited (HMFSL), Harrisons Rubber Products Limited (HRPL), Harrisons Agro Products Limited (HAPL) and Sentinel Tea and Exports Limited. Pursuant to Composite Scheme of Arrangement cited above, the three companies namely HMFSL, HRPL and HAPL merged into HML.Thereafter, the Company underwent reorganization in 2010 which resulted into Demerger of the Investment Undertaking of Harrisons Malayalam Limited (HML) into the Company, named Sentinel Tea and Exports Limited as a going concern. On the 3rd September 2010, the Board of Directors of the Company, issued and allotted 1,84,55,405 Equity Shares of Rs. 10/- each to the shareholders of Harrisons Malayalam Limited. And due to the demerger, t...