Through its newly incorporated subsidiary - UPL Speciality Chemicals
UPL has incorporated a wholly owned subsidiary in the name of UPL Speciality Chemicals (USCL) which has acquired 100% holding in Kudos Chemie. Accordingly Kudos becomes a step down wholly owned subsidiary of the Company.USCL acquired 4 crore equity shares of Rs.10/- each of Kudos for total consideration of Rs.40 crore.
As per the resolution plan approved by NCLT, the Company is required to invest Rs.237 crore in Kudos over a period of 2 years.
Kudos acquisition helps UPL to offer various value-added products to its customers having synergy with its existing business.
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