UPL Rights Issue is scheduled on 5 – 17 December 2024
UPL is primarily involved in the business of agrochemicals, industrial chemicals, chemical intermediates, specialty chemicals, and the production and sale of field crops and vegetable seeds. UPL is a major provider of agricultural solutions and services, boasting over 14,000 product registrations and a presence in 140 countries, reaching 90% of the world’s food supply. Its product portfolio includes crop protection chemicals such as insecticides, fungicides, and herbicides, as well as seeds and bio-solutions.
Through its subsidiary, UPL Specialty Chemicals, the company supplies high-quality agrochemical active ingredients and specialty chemicals to UPL Group companies as well as over 600 external B2B clients. UPL operates approximately 30 R&D facilities worldwide and invests around 3% of its sales in research and development. The company has registered 14,236 products and holds 1,884 granted patents globally.
As of 30 September 2024, the company had 43 manufacturing facilities, and 57 R&D centers across the globe for crop protection, non-agro, and seeds segments.
Promoters of UPL – Rajnikant Devidas Shroff, Nerka Chemicals Private Limited, Jaidev Rajnikant Shroff, and Vikram Rajnikant Shroff
UPL Rights Issue Details
| UPL Rights Issue Date | 5 – 17 December 2024 |
| UPL Rights Issue Price | INR 360 per share |
| Issue Size (in Shares) | 9,38,25,955 shares |
| Issue Size (in INR) | INR 3,377.74 crore |
| Issue Entitlement | 1 equity shares for every 8 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| UPL Rights Issue Record Date | 26 November 2024 |
| Face Value | INR 2 per share |
| Listing On | NSE, BSE |
UPL Rights Issue Calculation
| UPL Rights Issue Price | INR 360 per share |
| Market Price on Rights Issue Approval | INR 546.85 per share |
| Dilution Factor (X) | 1.13 |
| Fair Value After Dilution at Prevailing Price | INR 526.09 per share |
UPL Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 46,240 | 53,576 | 43,098 |
| Expenses | 36,711 | 43,380 | 38,801 |
| Operating Margin (%) | 21.0 | 19.0 | 10.0 |
| Net Income | 4,437 | 4,414 | (1,878) |
| ROCE (%) | 14.0 | 14.0 | 3.0 |
UPL Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- Prepayment, repayment, and/or redemption of all, or a portion of, certain outstanding borrowings availed by the company and certain of its subsidiaries – INR 3,008.81 crore
- General corporate purposes – INR 337.77 crore
UPL Rights Offer Documents
UPL Rights Issue Dates
| Rights Issue Approval Date | 20 November 2024 |
| Rights Issue Record Date | 26 November 2024 |
| Credit of Rights Entitlement | 4 December 2024 |
| Rights Issue Opening Date | 5 December 2024 |
| Last Date for Market Renunciation | 11 December 2024 |
| Rights Issue Closing Date | 17 December 2024 |
| Finalization of Basis of Allotment | 23 December 2024 |
| Rights Allotment Date | 24 December 2024 |
| Credit Date | 30 December 2024 |
| Listing Date | 1 January 2025 |
UPL Rights Offer Lead Manager
AXIS CAPITAL LIMITED
1st Floor, Axis House C-2 Wadia International Center
Pandurang Budhkar Marg, Worli Mumbai – 400 025 Maharashtra
Phone: +91 22 4325 2183
Email: [email protected]
Website: www.axiscapital.co.in
UPL Rights Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone:Â +91 810 811 4949
Email: [email protected]
Website:Â www.linkintime.co.in
UPL LIMITED
Uniphos House, Chitrakar Dhurandhar Road,
11th Road, Near Madhu Park Garden,
Khar (West), Mumbai-400052, Maharashtra
Phone:Â +91 22 6856 8000
Email: [email protected]
Website: www.upl-ltd.com
UPL Rights Offer FAQs
What is the UPL Rights Issue Price?
The issue price is INR 360 per share.
What is the UPL Rights Issue entitlement ratio?
The eligible shareholders are offered 1 Equity Shares for every 8 Equity Shares held on the record date.
What is the UPL Rights Issue Record Date?
The Record date is 26 November 2024.
How to Apply in UPL Rights Offer?
The best way to apply in UPL Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
