UPL has entered into a joint venture agreement with Aarti Industries for the manufacturing and marketing of specialty chemicals with applications in multiple downstream industries.
UPL and Aarti Industries plan to initially invest Rs. 12.50 crore each in the equity share capital of Augene Chemical, the proposed JV. Over approximately 24 months, they intend to invest an additional Rs. 137.50 crore each in one or more tranches in the form of equity capital, preference share capital, or debt.
Post subscription, both UPL and Aarti Industries will hold a 50% stake in Augene Chemical.
As of 10:05 AM, the shares of Aarti Industries were trading 3.06% higher at ₹646.15.
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Aarti Industries