UPL has approved a sweeping group reorganisation that will carve out and list a standalone global crop protection powerhouse — set to become the world’s second largest listed pure-play crop protection platform.
The Board cleared the composite scheme of arrangement, aiming to unlock shareholder value and sharpen strategic focus by separating and consolidating its crop protection businesses under a new listed entity, UPL Global Sustainable Agri Solutions Limited (UPL Global).
The reorganisation will consolidate UPL’s India and international crop protection businesses through the following steps:
1. Amalgamation of UPL Sustainable Agri Solutions Limited (UPL SAS) — UPL’s India crop protection platform in which it holds a 90.91% stake — into UPL.
2. Vertical demerger of the India crop protection business from UPL into UPL Global.
3. Amalgamation of UPL Crop Protection Holdings Limited (UPL Corp) — the entity through which UPL holds a 77.78% stake in its international crop protection business — into UPL Global.
Post-restructuring, two listed entities will emerge:
UPL Limited — a diversified agriculture and specialty chemicals platform.
UPL Global — a dedicated, integrated global crop protection company.
The move is designed to simplify the group structure, consolidate synergies across research, manufacturing and market access, and enable both businesses to raise capital independently.
UPL Global will bring together the company’s India and international crop protection operations under one roof — leveraging a global manufacturing base, advanced R&D capabilities and a product portfolio spanning more than 140 countries.
Reflecting on the reorganization, Jai Shroff, Chairman & Group CEO of UPL, said, “This strategic reorganization is an important milestone in UPL’s long-term transformation journey. The reorganized UPL structure strengthens our ability to build and scale diversified businesses across agriculture and specialty chemicals, while also driving the incubation of next-generation sustainable ventures.
"By unifying our India and international crop protection businesses under UPL Global, we are creating a future-ready platform with the focus, agility and innovation needed to lead in a rapidly evolving market. This move sharpens strategic focus, aligns stakeholder interests and positions both UPL and UPL Global for disciplined, value-accretive growth in the years ahead."
Mike Frank, who has led UPL Corp’s global crop protection operations through a period of expansion and operational strengthening, will serve as CEO of UPL Global.
Mike Frank, CEO of UPL Global, added, “Bringing our crop protection businesses under one platform creates the world’s second largest listed pure-play crop protection platform. With a presence in more than 140 countries, this unified platform will enable us to deliver innovations to farmers faster, more efficiently to gain greater market share.
This will position us to strengthen operational synergies and drive long-term value for our stakeholders."
