UPL will be investing Rs. 1.18 crore for 11.67% Equity Shares of Weather Risk Management Services (WRMS) (post dilution of existing shares). WRMS is an associate of the Company with an existing investment of 32.1%.
UPL had invested in June 2016, as an early-stage investor to support WRMS's growth and also capitalise on potential strategic benefits to UPL. WRMSs services are complimentary to UPL's digital foray.
Post acquisition, UPL's share in WRMS will be 40% (post dilution of existing shares).
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