UPL will file DRHP papers to raise $500 million from the initial public offering. The company deals in the manufacturing and supply of agricultural protection products. United Phosphorus Ltd. is a chemical company that started in 1985. With several decades of experience in the agriculture industry, the company is ready to offer its shares to the public. We will share information about the filing of UPL Ltd. DRHP and the upcoming IPO below.
UPL Will File DRHP Papers For An IPO Of ₹4,200 Crores
UPL will soon file DRHP with SEBI for $500 million. The company is looking to go public with an offering of both fresh shares and offers for sale. UPL has decided to systematically invest this money to bring as much growth as possible. The company plans to spend $80 million on new tangible assets. This IPO will be worth $500 million, which is Rs. 4,200 Crores.
UPL completed the board meeting and got approval from the board of directors for the IPO issue. Thus, they are looking for further approval from SEBI. As per UPL, the company should obtain the approval by the end of Q2 or Q3. The company is still planning to go either confidentially or on a regular route. SEBI has suggested that the company should go for a regular route. UPL will be able to enter the share market within the next 90 to 135 days with the usual route.
Thus, the company’s CFO will soon announce its decision on UPL’s route. Many companies file IPOs through a confidential route. One among them is Swiggy. The main benefit of going through a confidential route is that the company’s competitors do not get any details about their plans. Also, the company can change the issue size by the initial phase.
It helps them maintain their privacy before the issue. Vora mentioned that the company will file the DRHP papers soon. The company is in a field that will always have a requirement. Food will always be a need of human beings. Thus, the company is going in the right direction. DRHP paper filing is an essential step in the IPO issue. The company has a high chance of growth in the upcoming months. It has been maintaining its financials well till now. UPL has a good network of members. We hope you get enough details about the UPL DRHP papers filed above. Stay tuned for more information.