Saturday, March 2, 2024
Home » UPL TO TRANSFER SPECIALITY CHEMICAL BUSINESS ON A SALE BASIS TO UPL SPECIALITY CHEM

UPL TO TRANSFER SPECIALITY CHEMICAL BUSINESS ON A SALE BASIS TO UPL SPECIALITY CHEM

by Koushik Gope
0 comment

UPL Limited, an Indian multinational agrochemicals company, has announced plans to transfer its specialty chemical business to its wholly-owned subsidiary, UPL Speciality Chemicals Limited. The transfer will be done on a slump sale basis, and the consideration for the transfer has been agreed at ₹3,572 crore.

The specialty chemical business of UPL is a leading player in the global market, with a strong portfolio of products and technologies. The business has been growing rapidly in recent years, and it is expected to continue to grow in the future.

The transfer of the specialty chemical business to UPL Speciality Chem will allow UPL to focus on its core agrochemicals business. It will also allow UPL Speciality Chem to operate as a standalone entity and to pursue its own growth strategy.

The transfer is subject to the approval of the shareholders of UPL and the regulatory authorities. If the transfer is approved, it is expected to be completed by the end of the third quarter of 2023.

Benefits of the Transfer

There are a number of benefits to the transfer of the specialty chemical business to UPL Speciality Chem. These benefits include:

  • Focus on core business: The transfer will allow UPL to focus on its core agrochemicals business. This will allow UPL to allocate its resources more effectively and to achieve its growth targets in the agrochemicals market.
  • Growth opportunities: The specialty chemical business is a growing market, and the transfer will allow UPL Speciality Chem to pursue its own growth strategy. This could lead to new product development, market expansion, and increased profitability.
  • Enhanced shareholder value: The transfer is expected to enhance shareholder value. This is because the specialty chemical business is a valuable asset, and the transfer will allow UPL to unlock its value.

Conclusion

The transfer of the specialty chemical business to UPL Speciality Chem is a positive development for both UPL and UPL Speciality Chem. The transfer will allow UPL to focus on its core business and to pursue growth opportunities in the specialty chemical market. It will also allow UPL Speciality Chem to operate as a standalone entity and to enhance shareholder value.

You may also like

Leave a Comment

Welcome to the world of ISMDU, here we help you stay up-to-date on the latest market trends and news from around the world. Our mission is simple: to educate our readers about what’s happening in the stock market, so they can be prepared when opportunities arise.