Corporate restructuring expected to unlock shareholder value, simplify business structure, and accelerate global growth opportunities in crop protection and specialty agriculture

UPL Limited today announced that its Board of Directors has approved a comprehensive group reorganization plan through a composite scheme of arrangement aimed at creating a focused, independent crop protection platform while enhancing long-term shareholder value and operational efficiency.

The proposed reorganization will consolidate UPL’s India and international crop protection businesses into a single, focused platform. The transaction involves multiple group entities, including UPL Sustainable Agri Solutions Limited, UPL Crop Protection Holdings Limited, and UPL Global Sustainable Agri Solutions Limited, which is expected to become a publicly listed entity housing both domestic and international crop protection operations following completion of the scheme.

The restructuring will proceed through a multi-step integration process, beginning with the amalgamation of UPL Sustainable Agri Solutions Limited into UPL Limited, followed by a vertical demerger of the India crop protection business into UPL Global Sustainable Agri Solutions Limited. The final step will involve the amalgamation of UPL Crop Protection Holdings Limited into UPL Global, thereby consolidating global crop protection assets under one integrated platform.

The strategic objective of the reorganization is to unlock shareholder value by creating two distinct listed entities with differentiated investment profiles. UPL Limited will operate as a diversified agriculture and specialty chemicals platform, while UPL Global will function as a dedicated, pure-play crop protection business. This separation is expected to improve value discovery in capital markets by providing investors with clearer investment choices aligned with their risk and growth preferences.

The simplified corporate structure is also expected to generate operational efficiencies by consolidating research, manufacturing, and market access capabilities under a unified global platform. Management expects the integrated structure to strengthen innovation pipelines, enhance production synergies, and improve global distribution capabilities across agricultural markets.

The company believes the reorganization will also improve strategic focus by allowing independent management teams and boards to concentrate on distinct business priorities. The creation of a dedicated crop protection platform is expected to enable UPL Global to attract new investors, strategic partners, and financing opportunities, supporting continued expansion in international markets.

In addition, the restructuring provides greater financial flexibility for both entities. UPL Limited and UPL Global will be able to independently raise capital and optimize their balance sheets to support targeted growth initiatives and investment strategies. The Board has approved share exchange and entitlement ratios based on the recommendations of independent valuation experts.

The transaction is expected to be completed within 12 to 15 months, subject to receipt of necessary regulatory approvals. The scheme remains subject to clearances from regulatory authorities including the Securities and Exchange Board of India, Competition Commission of India, Reserve Bank of India, relevant stock exchanges, the National Company Law Tribunal, and other statutory bodies in India and international jurisdictions, in addition to approvals from shareholders and creditors of the respective companies.