The wholly-owned international subsidiary of PI Industries will execute the acquisition. The offered purchase consideration of approximately £ 32.8 Million is proposed to be paid in cash and funded from the earlier Qualified Institutional Placement (QIP) proceeds.

Consummation of the proposed acquisition is subject to the scheme becoming effective through a UK court process, which, among other things, requires approval by a majority of shareholders holding not less than 75% of the shares. This is expected to be completed by Q2 FY25.

By acquiring PHC, PI gains access to cutting-edge biological/peptide technology platforms in the "Plant Immunity Inducers" sector. This combined with their existing technologies and innovative chemical product pipeline, creates a "double engine" for developing a robust product portfolio. This portfolio will leverage PI's well-established sales network in India and key international markets.

Mayank Singhal, vice chairman & managing director of PI Industries, said, “We are very pleased to join forces with Plant Health Care, whose technology solutions perfectly align with our purpose of reimagining a healthier planet and offering sustainable solutions for the future of agriculture. This investment underscores our confidence in their technology platform and by joining forces, we can amplify our collective impact and bring groundbreaking solutions to farmers worldwide.”

PI Industries operates in the domestic agricultural inputs and custom synthesis manufacturing (CSM) exports segments. It is a leading player in the domestic agricultural inputs sector, primarily dealing in agrochemicals and plant nutrients.

The company reported a 44.08% decline in consolidated net profit to Rs 29.25 crore on 6.13% fall in revenue from operations to Rs 1,060.24 in Q4 FY24 over Q4 FY23.