The first-of-its-kind secondary listing at GIFT IFSC showcases India’s rising prominence in international finance and offers investors enhanced market access to a leading agricultural solutions provider

UPL Limited, a global pioneer in sustainable agricultural solutions, has achieved a historic milestone by becoming the first Indian issuer to execute a secondary listing of its existing Global Depository Receipts (GDRs) on the NSE International Exchange (NSEIX). Effective January 30, 2026, the listing expands trading avenues for UPL’s GDRs, reflecting both the company’s global ambition and India’s evolving capital market landscape.

To commemorate this achievement, NSEIX hosted a ceremonial bell‑ringing at NSE Exchange Plaza in Mumbai, spotlighting the GDR listing at GIFT IFSC (Gujarat International Finance Tech City – International Financial Services Centre). The event highlighted NSEIX as a progressive international trading platform and underscored India’s rising stature as a global financial hub.

The GDR programme, traditionally listed on the Singapore Stock Exchange (SGX) and accessible via the International Order Book (IOB) on the London Stock Exchange, now gains enhanced visibility and liquidity through its secondary listing on NSEIX. This move affords global investors greater trading flexibility and streamlined access to UPL’s equity instruments.

Jai Shroff, Chairman and Group CEO of UPL Limited, remarked, “Listing our GDRs on NSEIX demonstrates UPL’s commitment to providing diverse investment opportunities to our global investor base while upholding the highest standards of regulatory compliance. This secondary listing enhances liquidity options and reinforces our position as a truly global agricultural solutions provider.”

Bikash Prasad, Group CFO of UPL Limited, added, “This milestone underscores our disciplined financial management and strategic capital approach. By being the first company to list GDRs on NSEIX, we are expanding access and flexibility for investors worldwide while continuing to focus on sustainable, long-term value creation.”

V. Balasubramaniam, MD & CEO of NSEIX, stated, “We warmly welcome UPL as the first GDR to list at GIFT IFSC and NSEIX. This dual-listing structure sets a precedent for other companies and strengthens trading flexibility, providing global investors more efficient access to UPL’s GDRs. It also highlights GIFT IFSC’s growing relevance as a credible international financial gateway.”

This historic secondary listing not only enhances UPL’s global market access but also exemplifies India’s expanding presence in international finance, offering a blueprint for corporates seeking innovative and inclusive pathways to global capital markets.