Jai Shroff, Chairman and Group CEO, UPL | Photo credit: cueapi
The agreement will create two listed entities: UPL, the existing listed diversified agricultural and specialty chemicals platform, and UPL Global, the specialty crop protection platform. Existing UPL investors will receive one new share of UPL Global for each share held.
Initially, the Group will merge UPL Sustainable Agri Solutions into UPL, and then vertically spin off the Indian crop protection business from UPL to UPL Global. Finally, international crop protection company UPL Corp will be merged with UPL Global.
The transaction is expected to close within twelve to fifteen months, subject to timely regulatory approvals.
UPL’s Board of Directors on Friday approved a group reorganization plan through a composite scheme of arrangement with the aim of unlocking value for shareholders through the establishment of an independent and focused crop protection platform.
The reorganization will enable clearer value discovery by providing investors with flexibility to select investments that best suit their investment strategies and risk profile.
The integrated business will benefit from the company’s strong manufacturing base, advanced research capabilities, a robust global product portfolio and independent management.
The plan will also sharpen management and board focus while enabling UPL Global to broaden its capital base by attracting a broader group of investors, strategic partners and lenders, supporting sustainable business growth.
Jai Shroff, Chairman & Group CEO, UPL, said uniting India and global crop protection companies under UPL Global will create a future-proof platform with the focus, agility and innovation needed to lead in a rapidly evolving market.
This move sharpens strategic focus, aligns stakeholder interests and positions both UPL and UPL Global for disciplined, value-added growth in the years ahead, he said.
Mike Frank, CEO of UPL Global said the merger of crop protection companies will create the world’s second-largest publicly traded pure-play crop protection platform with a presence in more than 140 countries and will enable the company to deliver innovations to farmers faster and more efficiently to gain greater market share.
Bikash Prasad, Group CFO of UPL said the structural simplification strengthens the financial foundation and accelerates the company’s journey towards efficiency.
Published on February 20, 2026
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