UPL Limited has announced the completion of a strategic acquisition that strengthens its presence in the Chinese agricultural market. The company's step-down subsidiary, UPL Limited Hong Kong, acquired the remaining 25% stake in UPL Agro Limited for USD 17.86 million on January 8, 2026.

Acquisition Details

The transaction was completed through a cash consideration structure, with UPL Limited Hong Kong purchasing the balance 25% shareholding in UPL Agro Limited. This acquisition transforms UPL Agro Limited into a wholly owned subsidiary of UPL Limited Hong Kong.

Target Company Profile

UPL Agro Limited, incorporated on November 18, 2019, operates in China's agricultural chemicals sector through its wholly owned subsidiary Yoloo (Laoting) Biotechnology Limited. The company focuses on marketing and promotion services for agricultural chemical products, along with manufacturing, distribution and commercialization of crop protection products in the Chinese market.

The company has demonstrated consistent revenue performance over the past three years:

Strategic Impact

The acquisition provides UPL Limited with enhanced control over its Chinese operations. Post-acquisition, UPL Agro Limited becomes a wholly owned subsidiary of UPL Limited Hong Kong, resulting in 100% ownership of Yoloo (Laoting) Biotechnology Limited through UPL Agro Limited. This structure strengthens UPL's operational control and strategic positioning in China's crop protection market.

Regulatory and Transaction Structure

The transaction does not qualify as a related party transaction, and promoter groups have no direct or indirect interest in the acquired entity. No additional regulatory approvals were required for completing this acquisition, facilitating a streamlined transaction process. UPL Agro Limited maintains its operational presence in Hong Kong while conducting business activities in China through its subsidiary.

Market Positioning

This acquisition aligns with UPL's strategy to strengthen its global footprint in agricultural solutions. The transaction provides direct access to China's substantial crop protection market through established manufacturing and distribution capabilities. UPL Agro Limited's revenue growth from USD 73.18 million to USD 91.55 million between March 2024 and March 2025 demonstrates the entity's market potential and operational effectiveness in the region.

UPL Limited has officially announced the incorporation of its step-down subsidiary UPL GCC LATAM S.A.S in Colombia through a regulatory filing under Regulation 30 on January 8, 2026. The agrochemicals major received confirmation from its existing subsidiary UPL Colombia S.A.S regarding the completion of all legal and administrative formalities for the new entity's incorporation.

Regulatory Filing Details

The company filed the mandatory disclosure under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, informing stock exchanges about the subsidiary formation:

Subsidiary Incorporation Specifics

UPL GCC LATAM S.A.S was officially incorporated on December 19, 2025, with specific operational parameters designed for business management activities:

Corporate Structure and Ownership

The new subsidiary operates as a step-down subsidiary of UPL Limited, with UPL Colombia S.A.S holding 100% shares. UPL Limited maintains a 77.80% stake in UPL Corporation Limited, establishing a clear corporate hierarchy. The company confirmed that promoters, promoter groups, and group companies have no direct or indirect interest in the newly incorporated entity, and the transaction does not qualify as a related party transaction.

Regulatory Compliance

The subsidiary formation required no additional governmental or regulatory approvals beyond the standard incorporation procedures in Colombia. This streamlined process enabled UPL to establish its presence efficiently in the Latin American market. The company's disclosure complies with SEBI circulars dated November 11, 2024, and December 31, 2024, ensuring full regulatory transparency.

Strategic Business Implications

UPL GCC LATAM S.A.S will function as a business management entity and shared service center for the group's Latin American operations. The modest initial capital subscription reflects a strategic approach to market entry, allowing UPL to establish operational infrastructure while maintaining financial flexibility for future expansion based on regional market opportunities and business requirements.