UPL Limited has informed the Exchange regarding Summary of Proceedings, Voting Outcome and Scrutinizers Report of Extraordinary General Meeting held on September 24, 2025.
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UPL Limited held an Extraordinary General Meeting (EGM) on September 24, 2025, via video conferencing, chaired by Chairman & Group CEO Mr. Jaidev R. Shroff. Shareholders were asked to approve a material related party transaction among subsidiaries — UPL Corporation Limited (Mauritius), Advanta Enterprises Limited, and Advanta Mauritius Limited — via an Ordinary Resolution. A total of 44,56,75,877 valid votes were polled, representing 52.82% of outstanding shares. The resolution passed with overwhelming support: 99.9973% in favour (44,56,63,988.5 votes) and just 11,888 votes against (0.0027%). Promoters and promoter group, who declared themselves interested in the resolution, voted 100% in favour (41,55,02,233 shares), while public shareholders voted 99.96% in favour. A total of 70 shareholders attended through video conferencing, and 3,06,05,832 votes abstained.
The approved transaction clears the way for UPL to execute a related party transaction within its subsidiary structure, potentially consolidating or reorganising its global seed business operations. While the near-unanimous vote reflects strong shareholder confidence, retail investors should note that promoter entities were themselves interested parties in this deal, which warrants scrutiny on arm's-length pricing and corporate governance terms.