UPL rises on plan to merge Advanta with itself

24 Nov 2015 Evaluate

UPL is currently trading at Rs. 443.65, up by 1.70 points or 0.38% from its previous closing of Rs. 441.95 on the BSE.

The scrip opened at Rs. 442.90 and has touched a high and low of Rs. 445.90 and Rs. 440.00 respectively. So far 51187 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 576.00 on 11-Aug-2015 and a 52 week low of Rs. 299.55 on 15-Dec-2014.

Last one week high and low of the scrip stood at Rs. 471.90 and Rs. 439.50 respectively. The current market cap of the company is Rs. 18991.46 crore.

The promoters holding in the company stood at 29.80% while Institutions and Non-Institutions held 57.72% and 12.41% respectively.

UPL, formerly known as United Phosphorus, has received its board’s approval to merge its agriculture seed company Advanta with itself in a bid to improve shareholder value and simply the group structure. The merger is backdated to 1 April 2015.

The merger will result in access to newer territories, enhanced coverage in existing markets, leveraging channel capabilities. The company expects to achieve annual cost savings of Rs.90 crore as well.

As per merger proposal, for every share held in Advanta, holders will get one UPL share and three preference shares. Every 100 GDRs (Global Depository Receipts) held by Advanta holders will get 106 new UPL GDRs and every 100 FCCBs (Foreign Currency Convertible Bonds) held in Advanta will fetch 100 UPL FCCBs.

UPL (formerly United Phosphorus) 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.

UPL Share Price

548.40 1.55 (0.28%)
16-Jan-2025 11:57 View Price Chart
Peers
Company Name CMP
UPL 548.40
BASF India 5058.35
PI Industries 3454.75
Bayer CropScience 5160.00
Sumitomo Chemical India 481.55
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