UPL shines on getting nod to raise upto Rs 4,200 crore

UPL Ltd. | Pesticides & Agrochemicals | Chemicals & Fertilizers | BSE: 512070 | NSE: UPL

26 Dec 2023 Evaluate

UPL is currently trading at Rs. 593.50, up by 11.80 points or 2.03% from its previous closing of Rs. 581.70 on the BSE.

The scrip opened at Rs. 588.00 and has touched a high and low of Rs. 594.00 and Rs. 586.70 respectively. So far 11389 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 780.00 on 17-Feb-2023 and a 52 week low of Rs. 528.35 on 31-Oct-2023.

Last one week high and low of the scrip stood at Rs. 614.45 and Rs. 566.10 respectively. The current market cap of the company is Rs. 43662.85 crore.

The promoters holding in the company stood at 32.35%, while Institutions and Non-Institutions held 50.84% and 12.78% respectively.

UPL has received approval for the proposal for fund raising for an amount aggregating upto Rs 4,200 crore subject to receipt of statutory / regulatory approvals, as may be required under applicable law, by way of issue of equity shares on rights issue basis to the eligible equity shareholders of the Company as on the record date (to be determined and notified subsequently), in accordance with the applicable laws including the Securities and Exchange Board of India (Issue of Capital and Disclosures Requirements) Regulations, 2018 as amended from time to time. The Board of Directors of the Company at its meeting held on December 22, 2023, inter alia, approved the same.

UPL is global player of crop protection products has customer base in 123 countries. It has subsidiary offices in Argentina, Australia, Bangladesh, Brazil, China, Canada, Denmark, Indonesia, France, Hong Kong, Japan, Korea, Mauritius, Mexico, New Zealand, Russia, Spain, Taiwan, South Africa, USA, UK, Vietnam and Zambia.