UPL shares plunge 17% following massive corporate restructuring

UPL Ltd shares plunged nearly 17% to an intraday low of ₹625.55 following board approval for a composite scheme of arrangement. The overhaul creates two listed entities: UPL 1 for specialty chemicals and UPL 2 for global crop protection. This three-step execution strategy unifies domestic and international operations across 140 countries before listing.