M&A

M&A

UPL to sell 50% stake in Agri Net Solutions to promoter co Nerka Chem for Rs.1.75 Cr

BSE Disclosure  

UPL Ltd will transfer its entire holding of 49.98% in equity share capital of its subsidiary viz. Agri Net Solutions Ltd (ANSL) for INR 1.75 crore. The shares will be bought by Nerka Chemicals Pvt Ltd, a promoter group company. The balance investment in ANSL is held by promoters. Post transfer, ANSL will cease to be the subsidiary of UPL. The turnover of Agri Net Solutions Ltd (ANSL) during the previous financial year 2020-21 was Nil. Its net-worth as on 31st March 2021 was INR 3.42 crore.