UPL Limited has announced that its subsidiary Advanta Enterprises Limited has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a proposed initial public offering. The filing was made on January 19, 2026, with SEBI, BSE Limited, and the National Stock Exchange of India Limited.

IPO Structure and Share Details

The proposed IPO comprises an offer for sale of equity shares with specific participation from UPL Limited and other eligible shareholders of Advanta Enterprises.

Company Relationship and Structure

UPL Limited serves as the promoter of Advanta Enterprises Limited, which operates as a subsidiary within the UPL Group. Advanta Enterprises, formerly known as Advanta Enterprises Private Limited, is engaged in the seeds business and operates under the UPL Group umbrella.

The company is headquartered in Hyderabad, Telangana, with its registered office located at Uniphos House in Mumbai, Maharashtra. Advanta Enterprises holds the Corporate Identity Number U01100MH2022PLC383998.

Regulatory Compliance and Approvals

The disclosure was made in accordance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015. UPL Limited's Company Secretary and Compliance Officer Sandeep Deshmukh signed the regulatory filing.

The IPO remains subject to several conditions that must be fulfilled before completion:

• Receipt of necessary regulatory approvals
• Favorable market conditions
• Other relevant considerations

Market Positioning

Advanta Enterprises operates in the agricultural seeds sector as part of UPL's diversified portfolio. The company maintains its business operations through its website advantaseeds.com and has established its operational presence in Hyderabad's Banjara Hills area.

The filing represents a significant step in Advanta's journey toward becoming a publicly listed entity, subject to successful completion of the regulatory approval process and market conditions.

UPL has completed a significant corporate restructuring move as its subsidiary acquired the final 25% stake in UPL Agro, achieving full ownership of the entity. This strategic acquisition eliminates all minority shareholding in UPL Agro and brings it under complete control of the UPL group.

Acquisition Details

The transaction involved UPL's subsidiary purchasing the remaining quarter stake in UPL Agro, which was previously held by external stakeholders. With this acquisition, UPL now holds 100% ownership in UPL Agro, marking the completion of a full consolidation process.

Strategic Implications

The full acquisition of UPL Agro represents a strategic consolidation that provides several operational advantages. Complete ownership allows for streamlined decision-making processes and eliminates the need for minority shareholder approvals on key business decisions. This move also enhances operational efficiency by bringing UPL Agro's activities under direct corporate control.

Corporate Structure Enhancement

By achieving 100% ownership, UPL has strengthened its corporate governance structure within the agricultural business segment. The elimination of minority ownership simplifies reporting structures and allows for more integrated business planning and execution across the group's agricultural operations.

This acquisition demonstrates UPL's commitment to consolidating its agricultural business portfolio and optimizing its subsidiary structure for enhanced operational control and strategic flexibility.