Shares of PI Industries were trading in the green and 2% higher on 21 August after the company announced acquiring UK-based Plant Health Care Plc through its wholly-owned subsidiary, PI Industries Management Consultancies LLC.

Plant Health Care Plc is now a step-down subsidiary of PI Industries and a wholly-owned subsidiary of PI LLC as a result of this transaction.

The aim of this acquisition is to enhance the company’s capacity to provide comprehensive agricultural solutions that incorporate chemical and biological products. 

The acquisition is expected to be completed in three months from the date of announcements. 

The transaction will not be classified as a related party transaction because the subsidiary is purchasing the shares from an unrelated entity.

Over the past three months, PI Industries’ shares have risen more than 26%, outpacing the Nifty 50’s 9% gain during the same period. The stock reached a 52-week high of Rs 4,581 a share on 9 August 2024.

Lower-than-expected 8% revenue growth for the June quarter of the corporation was caused by declining domestic branded business and slower growth in bespoke synthesis production. Comparing Q1FY25 to Q1FY24, domestic business fell by 8% as a result of the delayed planting of important areas.

At 11: 52 pm, the shares of PI Industries were trading 0.65% higher at Rs 4,355.55 on NSE. 

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