UPL Limited to sell its holding in Agri Net Solutions Ltd

UPL Limited (the Company) will transfer its entire holding of 49.98% in equity share capital of its subsidiary viz. Agri Net Solutions Limited ('ANSL'). Post transfer, ANSL will cease to be the subsidiary of the Company.

The turnover of Agri Net Solutions Limited (ANSL) during the previous financial year 2020-21 was Nil. Its Net-worth as on 31st March 2021 was Rs.3.42 crores i.e. 0.01% of the consolidated Net-worth of UPL Limited.

The Consideration received from such sale/disposal is Rs. 1.75 crores. The same is based on valuation done by an independent CA firm.

The shares will be bought by Nerka Chemicals Private Limited, a promoter group company. The balance investment in ANSL is held by promoters.

Shares of UPL Limited was last trading in BSE at Rs. 689.10 as compared to the previous close of Rs. 665.70. The total number of shares traded during the day was 227696 in over 7147 trades.

The stock hit an intraday high of Rs. 697.25 and intraday low of 661.10. The net turnover during the day was Rs. 155688557.00.

Source : Equity Bulls

Keywords

UPL INE628A01036 StakeSale AgriNetSolutions