Shares of chemicals producer UPL today zoomed 15.5 per cent after the company teamed up with Abu Dhabi Investment Authority and TPG to snap up Florida-based Arysta Life Science Inc for USD 4.2 billion in an all-cash deal.
The stock soared 14.79 per cent to close at Rs 631.65 on BSE. Intra-day, it zoomed 16.24 per cent to Rs 639.65.
At NSE, shares of the company jumped 15.52 per cent to end at Rs 634.90. Led by the sharp gain in the stock, the company’s market valuation surged Rs 4,146.63 crore to Rs 32,172.63 crore.
On the equity volume front, 11 lakh shares of the company were traded on BSE and 2.38 crore shares changed hands at NSE during the day. Once completed, the deal will make UPL the world’s fifth-largest crop-protection company with a combined revenue of USD 5 billion. The deal was announced on Friday.