UPL Limited announced that the company has received an intimation on November 22, 2023, about issuance of certificate of incorporation with regards to new step-down subsidiary, Advanta Seeds (Pty) Ltd. effective November 21, 2023.

Advanta Seeds (Pty) Ltd. would be a step-down subsidiary at Advanta Seed structure under Advanta Enterprises Limited, India in which the company holds 86.67%. It becomes a related party upon incorporation.

The company is incorporated to carry out seeds and related business, upon infusion of share capital in due course. Advanta Holdings BV, Netherlands expects to invest approx. US$ 1 million in line with the business plan in the form of equity or any other security/form as may be deemed appropriate. Investment will be made in cash, in compliance with applicable local regulations. 100% shareholding is held by Advanta Holdings