UPL enters into JV with Aarti Industries

UPL has entered into a joint venture agreement with Aarti Industries for manufacturing and marketing of specialty chemicals that has applications in multiple downstream industries.

UPL and Aarti Industries propose to initially invest Rs. 12.50 crore each, in equity share capital of Augene Chemical (proposed JV). Subsequently, over a period of about 24 months, it is proposed to invest Rs. 137.50 crore each in one or more tranches in the form of equity capital/preference share capital/debt.

Post subscription by both UPL and Aarti Industries, their respective shareholding in ACPL will be 50%:50%

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