Jai Shroff, Chairman and Group CEO, UPL | Photo Credit: QAP
Leading crop protection company UPL has announced a restructuring plan that will consolidate its India and international crop protection businesses and create a pure-play, focused crop protection platform, which will be listed on stock exchanges.
The scheme of arrangement will create two listed entities – UPL, the existing listed diversified agro and specialty chemicals platform and UPL Global, the dedicated crop protection platform. Existing investors of UPL will be issued one new share of UPL Global for each share held.
Initially, the group will merge UPL Sustainable Agri Solutions into UPL, then demerge the India crop protection business from UPL into UPL Global. Finally, international crop protection business UPL Corp will merge into UPL Global.
Subject to timely receipt of regulatory approvals, the transaction is expected to be completed in 12-15 months.
The board of directors of UPL on Friday approved a group restructuring plan through a holistic scheme of arrangement aimed at unlocking value for its shareholders through the creation of an independent and focused crop protection platform.
The restructuring will help investors in clear value discovery by providing them the flexibility to select investments best suited to their investment strategies and risk profiles.
The integrated business will benefit from the company’s strong manufacturing base, advanced research capabilities, a strong global product portfolio and independent management.
The plan will also sharpen managerial and board focus, while enabling UPL Global to broaden its capital base by attracting a broader pool of investors, strategic partners and lenders, supporting continued business growth.
Jay Shroff, Chairman and Group CEO, UPL, said that by uniting the India and international crop protection businesses under UPL Global, we will create a future-ready platform with the focus, agility and innovation required to lead in a rapidly evolving market.
The move sharpens strategic focus, aligns stakeholders’ interests and positions both UPL and UPL Global for disciplined, value-growth in the coming years, he said.
Mike Frank, CEO of UPL Global, said the merger of the crop protection businesses will create the world’s second largest listed pure-play crop protection platform with a presence in more than 140 countries and will enable the company to deliver innovation to farmers faster, more efficiently, to capture greater market share.
Vikas Prasad, Group CFO, UPL, said the structural simplification strengthens the financial foundation and accelerates the company’s journey to become more efficient.
Published on February 20, 2026
