UPL Limited has issued a regulatory clarification following media reports about a meeting between its Chairman & Group CEO Jai Shroff and Karnataka Minister MB Patil at the World Economic Forum (WEF) in Davos, Switzerland. The company responded to queries from both BSE Limited and the National Stock Exchange regarding the news coverage dated January 20, 2026.

Meeting Details and Context

The meeting took place on the sidelines of the 56th World Economic Forum Annual Meeting currently being held in Davos, Switzerland. The global event has attracted nearly 3,000 leaders from 130 countries, including 65 heads of state and government, 850 CEOs, and 100 technology pioneers. Jai Shroff, who has over 33 years of experience in the chemical and agri-inputs industry, is actively involved in global development initiatives including the World Economic Forum's Grow Africa and Grow Asia programs.

Company's Official Clarification

UPL emphasized that the discussion with the Karnataka Minister was informal and centered around the state government's expectations for scaling up operations to improve farm productivity. The company provided specific clarifications regarding the nature of the meeting:

Regulatory Compliance Statement

The agricultural solutions provider stated that the meeting does not fall under events reportable under Clause 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015. Company Secretary and Compliance Officer Sandeep Deshmukh signed the clarification, emphasizing that no information requiring stock exchange announcement emerged from the discussion.

Company Background

UPL Limited operates as a leading global player in crop protection products, services, and seeds, maintaining presence across more than 138 countries. The company's leadership actively participates in international agricultural development initiatives, including partnerships with organizations such as IFPRI's Sustainable Agriculture and Global Food Security Initiative, WBCSD, Chicago Council, IGD, and ICAR.

Market Impact Assessment

The company stated that as the meeting involved no concrete developments or agreements, there would be no impact on share prices. UPL noted that commenting on share price movements would be speculative in nature, maintaining its position that the informal discussion does not constitute material information requiring regulatory disclosure.

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.