The Board of Directors of UPL Limited has granted in-principle approval for exploring various options available for unlocking value in Advanta by raising funds through primary or secondary issuances of securities, by way of private placements or public offerings or any other permissible mode(s) or combination thereof.

The shareholders of UPL Limited had approved creation of distinct pure play platforms in FY23 and in line with the said approval, a separate platform was created by transferring Seeds business to Advanta Enterprises Limited, a subsidiary of UPL Limited. One of the main objectives of creating a separate Advanta platform was to facilitate unlocking value for the shareholders of UPL Limited at an appropriate time.

The company will make suitable announcement, if any and as and when required, under applicable regulations of Securities and Exchange Board of India, subject to receipt of approvals from the respective Boards of UPL Limited and Advanta as may be warranted, for such definitive proposals.