UPL Limited has received intimation on 6th September, 2023 about issuance of certificate of incorporation with regards to a new subsidiary viz. ASI Seeds Enterprises Kenya Limited effective 1st September 2023 with initial capital of KES 100,000 (100 Ordinary Shares of KES 1000 each). ASI Kenya would be a step-down subsidiary at Advanta Seed structure under Advanta Enterprises Limited, India in which the Company holds 86.67%.

ASI Kenya would carry out seeds and related business, upon infusion of share capital in due course. ASI Kenya being a step-down subsidiary becomes related party of the Company upon incorporation.