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MUMBAI - UPL Limited, a global provider of sustainable agriculture products and solutions, has announced the completion of its pending rights equity share allotment process. On January 17, 2025, the Rights Issue Committee of UPL's Board of Directors approved the allotment of 33,326 rights equity shares, which were previously held in abeyance.
This allotment is part of a larger rights issue that was initially disclosed on December 20, 2024, when UPL allotted 9,37,92,629 rights equity shares out of a total of 9,38,25,955 shares to eligible shareholders. The remaining shares, now approved for allotment, were awaiting regulatory and other clearances.
Each of these newly allotted equity shares is priced at ₹360, which includes a premium of ₹358 per share. Shareholders have already paid ₹90 per share, with ₹0.50 as share application money and ₹89.50 as a premium. The balance will be payable upon one or more additional calls as decided by the Board or Rights Issue Committee in the future.
The allotment has been made in compliance with an order from the Hon'ble Special Court constituted under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992. This move finalizes the rights issue process for UPL, enabling the company to proceed with its strategic initiatives.
The announcement is based on a press release statement and provides the market and investors with the latest update on UPL's equity share distribution. The company's actions align with regulatory requirements and court orders, ensuring transparency and adherence to legal frameworks in its capital-raising efforts.
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