On September 13, 2019, the National Company Law Tribunal approved the merger of Monsanto India Limited into Bayer CropScience Limited. Post the merger, Monsanto products will retain their brand names and become a part of Bayer's product portfolio.
This integration brings together two highly complementary businesses, creating an innovation engine for Indian agriculture. Farmers in India will benefit from Bayer's innovative crop protection products and Monsanto's expertise in seeds & traits and digital farming applications.
Speaking about this strategic milestone for Bayer's business in India, D. Narain, Managing Director & CEO, Bayer CropScience Limited, said, "Today is a great day for us! Bayer has been operating in India for more than 120 years and understands the needs and aspirations of Indian farmers. With the integration of Monsanto into Bayer in India, we will be able to provide Indian farmers a strong portfolio of innovation-led agricultural solutions. Our long-term goal is to unlock the growth potential of Indian agriculture as a global producer & exporter of food, feed and fibre."
The combination will bring together a vast talent pool of experienced employees from both organizations who will work closely with farmers to enhance crop yields, increase farm incomes and drive sustainable agriculture. Besides business operations, Bayer will also strengthen its corporate societal engagement in India further. "We are committed to deepen our dialogue with society and key stakeholders and contribute to the future of Indian agriculture while benefiting farmers, consumers and the environment," added D Narain.
Upon the merger becoming effective, the shareholders of Monsanto India Limited will get 2 (two) equity shares of Rs.10/- each of Bayer CropScience Limited, for every 3 (three) equity shares held by them in Monsanto India Limited.
Shares of BAYER CROPSCIENCE LTD. was last trading in BSE at Rs.3238 as compared to the previous close of Rs. 3172.15. The total number of shares traded during the day was 778 in over 315 trades.
The stock hit an intraday high of Rs. 3360 and intraday low of 3218. The net turnover during the day was Rs. 2548311.