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UPL Limited's Committee of Directors, at a meeting on 19th November 2024, approved the sale of an 8.93% stake in its subsidiary, Advanta Enterprises Limited (AEL), to Alpha Wave Ventures II, LP for USD 250 million. The Committee also consented to AEL's proposal to raise an additional USD 100 million through fresh equity investment by Alpha Wave.
| Date | 19 Nov 2024 |
| Time | 18:18:43 |
| Category | Miscellaneous |
| ID | 8672M |
UPL LIMITED
Sub: Investment by Alpha Wave Ventures II, LP in Advanta Enterprises Limited, Subsidiary of the Company engaged in seed business.
We hereby inform that the Committee of Directors of the Company at its meeting held today i.e. 19th November 2024:-
A. Approved sale of 8.93% (post primary investment) stake in AEL, a subsidiary of the Company to Alpha Wave Ventures II, LP ("Alpha Wave"), a PE Investor for an aggregate consideration of USD 250Mn; and
B. Consented to AEL's proposal to raise funds through fresh investment by Alpha Wave in equity share capital for an aggregate consideration of USD 100 Mn.
Link:
https://www.bseindia.com/xml-data/corpfiling/AttachLive/f9cd020d-cb3c-4ee9-940f-70b4501c1c3f.pdfs
We request you to take note of the same.
Thanking you,