Stock Market News: The board of the 160-year-old company gave a big approval as soon as the market closed - keep an eye

News Topical, Digital Desk : This company produces classic black tea and orthodox tea from Bangladesh and Assam. Apart from this, it makes products like power transformers, switchgear, voltage regulators, flame-proof gear, fire alarm systems. It manufactures industrial fans, blowers, air pollution control equipment, water treatment plants, and tea processing machinery.

The company also produces auto lubricants, such as oil, through its subsidiary Tide Water Oil (Veedol brand). 

Founded in 1863 in Calcutta by Andrew Yule of Scotland. Expanded into jute, coal, tea, engineering, securities, insurance, etc during the British Raj. In the year 1974-79, the government bought 51% stake, since then it became a CPSE.
Its Headquarters: Kolkata, Regional Offices: Delhi, Chennai. Total number of employees is around 14,000. Now a big announcement has been made, government company Andrew Yule & Company has decided to sell around 3.48 lakh shares in its subsidiary Veedol Corporation, which is around 2% of the total stake of the company, through Offer For Sale (OFS). This decision was taken during the Board Meeting. The OFS notice was issued on 22 May 2025, stating that the sale would be a 2 trading-day process. It was first withdrawn citing a “technical glitch”, but later it was revealed that Andrew Yule's demat account was temporarily suspended. Why OFS is special- Veedol is a lubricant manufacturing company and its promoter Andrew Yule is a government body for whom selling their stake is considered a very unusual step. Generally, OFS is done to sell the majority stake by the promoter in any listed company, but in this case the process was stopped due to some technical problem related to the securities account.

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