Warren Tea acquires 8.5% stake in Pressman Advertising

Picks up two million shares for Rs 7 crore

Kolkata-based Warren Tea Ltd acquired an 8.52 per cent stake in Pressman Advertising Ltd through open market purchases, the company said in a filing with the Bombay Stock Exchange.

Warren Tea picked up two million shares of the target company at Rs 35 a share for Rs seven crore.

Shares of Warren Tea were down 3.28 per cent at Rs 149 on the Bombay Stock Exchange, at around 1230 hours on February 6.

Shares of Pressman Advertising were down 4.5 per cent at Rs 33.90.