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News Topical, Digital Desk : UPL Limited announced after the stock market closed on Monday that the company, through its step-down subsidiary Advanta Holdings BV, has decided to acquire shares in Hybrid Seeds Vietnam Company Limited. The total cost of this acquisition is US$2,000. Hybrid Seeds Vietnam Company will now become a step-down subsidiary of Advanta Enterprises Limited, India, in which UPL holds a 78.21 percent stake. The company clarified that this acquisition is not a related party transaction.
The company stated that the acquisition process will be completed by December 31, 2025. Following the acquisition, Advanta Holdings BV will own 100% of the shares. This move is considered part of UPL's strategy to expand globally and strengthen its position in the agritech sector. For the September quarter, UPL reported a net profit of ₹553 crore, compared to a net loss of ₹443 crore in the same quarter last year. Revenue for this quarter increased by 8.4% to ₹12,019 crore compared to ₹11,090 crore last year.
Share Performance: IPL shares closed at ₹779 on Monday, up 3.65%. Over the past year, the company's stock has gained 53.44%.
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