UPL Limited has informed the Exchange regarding a press release dated February 20, 2026, titled "UPL Announces the Creation of World s Second Largest Listed Pure-Play Crop Protection Platform".
UPL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 14.0 pts less than Nifty Midcap 150 and 13.7 pts less than its Pesticides & Agrochemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
UPL Limited's board has approved a composite scheme of arrangement that will create two listed entities. UPL SAS will merge into UPL, UPL's India crop protection business will be demerged into a new entity called UPL Global Sustainable Agri Solutions (UPL 2), and UPL Crop Protection Holdings (UPL Cayman, the international business) will then merge into UPL 2. UPL 2 will be listed on Indian stock exchanges and is billed as the world's second-largest listed pure-play crop protection platform. The demerger share entitlement ratio is 1:1, while UPL SAS shares will be exchanged at 1,000 UPL shares for every 48 UPL SAS shares. Existing investor Upswing Trust will hold 16.78% in UPL 2, and promoter family members have agreed to an 18-month lock-in post-listing. The transaction is expected to complete in 12–15 months subject to NCLT, SEBI, CCI, and RBI approvals.
Existing UPL shareholders will effectively hold shares in both a diversified agro-chemical platform (UPL) and a focused pure-play crop protection company (UPL 2), which could lead to a sum-of-parts re-rating. The share price may see short-term volatility due to the complexity of the three-step restructuring and the 12–15 month timeline, but the clearer business focus could attract distinct investor bases to each entity.