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Dhanuka Agritech Ltd. — Capital/Financing Update 2024
Nov 25, 2024
61335_rns_2024-11-25_5efe3e34-2e2b-403f-b86e-7c29b0ec7731.pdf
Capital/Financing Update
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Date: 25[th] November, 2024
Listing Department The Department of Corporate ServicesNational Stock Exchange of India Limited Listing Exchange Plaza, The BSE Ltd. Plot No. C/1, G. Block, Phiroze Jeejeebhoy Towers, Bandra- Kurla Complex, Dalal Street, Bandra East, Mumbai-400 051 Mumbai- 400 001 Symbol- DHANUKA Scrip Code : 507717
Symbol- DHANUKA
Sub: Copy of Press Release
Dear Sir/Madam,
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, enclosed herewith is a copy of the Press Release with regard to the Dhanuka’s announcement for acquiring international rights to the active ingredients Iprovalicarb and Triadimenol from Bayer AG.
A copy of the Press Release is also uploaded on the website of the Company at www.dhanuka.com
Please take the above information in your record.
Thanking you,
For Dhanuka Agritech Limited
JITIN Digitally signed by JITIN SADANA SADANA Date: 2024.11.25 14:11:40 +05'30'
Jitin Sadana Company Secretary and Compliance Officer FCS-7612
Registered & Corporate Office : Global Gateway Towers, Near Guru Dronacharya Metro Station, MG Road, Gurugram-122002, Haryana
Tel: +91-124-434-5000, Email: [email protected], Website: www.dhanuka.com CIN: L24219HR1985PLC122802
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Dhanuka announces strategic acquisition Agreement with Bayer AG for acquiring international rights to the active ingredients Iprovalicarb and Triadimenol to expand its global footprint
New Delhi, November 25, 2024 – Dhanuka Agritech Limited, one of India’s leading agri input companies, has signed an agreement to acquire international rights to the active ingredients Iprovalicarb and Triadimenol . With this acquisition, Dhanuka plans to expand its footprint in more than 20 countries, including the regions of LATAM, EMEA and Asia including India. These products were invented by Bayer AG , a global leader in agriculture input solutions and farming innovations. This acquisition will enable Dhanuka to embark on a journey of global market expansion.
Under this acquisition, Dhanuka Agritech Limited will get all the rights for manufacturing and sale of Iprovalicarb and Triadimenol in more than 20 countries. In this transaction, Dhanuka will acquire the global rights to the associated brand Melody (for Iprovalicarb) with sub-brands like Melody Duo, Melody Compact, Melodika and others. As part of the Agreement, the companies have agreed on a transition plan that allows Dhanuka to provide seamless service, ensuring no disruption for growers and customers globally. Further, Dhanuka will be shifting the manufacturing of at least one of the products to India, leveraging the capabilities of its manufacturing unit at Dahej, Gujarat.
Iprovalicarb is a fungicide from the Carboxylic Acid Amines (CAA) class, used for disease management caused by Oomycetes species in Horticulture crops.
Triadimenol is a well-established product used in seed treatment for cereals and cotton as a solo formulation and as a part of multiple treatment seasonal program in coffee as a pre-mix. Triadimenol is a SBI class 1, DMI triazole fungicide to control various diseases.
The agreement will strengthen Dhanuka’s market position by providing a jump to both the topline and bottom-line by selling its products in India and global markets.
“ Dhanuka is excited to embark on this journey with Bayer AG , as we expand our footprint in these key markets. This agreement not only strengthens our market presence but also reinforces our commitment to delivering exceptional products and services to customers worldwide” said Harsh Dhanuka, Executive Director - Dhanuka Agritech Ltd.
This agreement highlights Dhanuka’s continued focus on strategic growth and commitment to maintaining strong relationships with customers and stakeholders. Dhanuka is confident that this will provide value to growers across the globe.
About Dhanuka:
Dhanuka Agritech is a leading player in India's crop protection and crop care sector. Dhanuka is renowned for its innovative crop protection solutions and commitment to agricultural excellence. With over 40 years of experience, Dhanuka delivers high-quality products designed to enhance crop yields and support sustainable farming. Dhanuka’s commitment to the abundance of farmers and farming and customer satisfaction makes it a trusted partner in driving agricultural success and farm prosperity.
For media inquiries or further information, please contact: Advent Public Relations Kheman |+91 9871829296| [email protected] Parul Tripathi | +91 6393827097 |[email protected]