Augene Chemical Private Limited announced that it will issue equity shares for gross proceeds of INR 250,000,000 on May 23, 2024. The transaction will include participation from new investors, UPL Limited and Aarti Industries Limited for INR 125,000,000 each. Post the closing of the transaction, the investors will hold 50% stake each in the company.

Subsequently, over a period of about 24 months, it is proposed to invest INR 1,375,000,000 by each investors in one or more tranches in the form of equity capital/preference share capital/debt. The transaction is expected to close in approximately next 60 days from signing of the agreements.