Bayer CropScience Ltd Share Price Bayer Crop Sci.
|Company Secretary||Rajiv Wani|
|Chairman & Independent Directo||Pankaj Patel|
|Vice Chairman & M.D.||Duraiswami Narain|
|Addtnl Independent Director||Ketaki Bhagwati|
|Additional Director||Jens Hartmann|
|Whole Time Director & CFO||Rolf Hoffmann|
|Addtnl Non-Executive Director||Thomas Hoffmann|
|Addtnl Independent Director||Sekhar Natarajan|
Bayer CropScience is a world leader in the areas of crop protection, pest control, seeds and plant biotechnology. The company offers comprehensive solutions for modern, sustainable agriculture and non-agricultural applications. The company operates in the area of Crop Protection, Environmental Science and BioScience. The company develops and markets fungicides, insecticides, herbicides, and seed treatment products. They use plant biotechnology and breeding to offer solutions for agriculture, nutrition, health and biomaterials. The companys manufacturing facilities are located at Himatnagar and Ankleshwar in Gujarat. Bayer CropScience Ltd formerly known as Bayer (India) Ltd was incorporated in the year 1958. The company is the Indian subsidiary of Bayer Germany which is a diversified international chemical and healthcare company. They diversified into inorganic-chemistry-related fields like hard metals, engineering ceramics, etc, after acquiring Hermann C Starck of Berlin, Germany. The company was converted into public limited company on December 28, 1996.In 1993, the company entered into a strategic alliance with Herdillia Chemicals to manufacture diphyl heat transfer medium. During 1998-99, Jagat Chemicals, a 100% subsidiary was amalgamated with the company with effect from January 1, 1999. Sales and marketing operations of the Pharma Business Group were discontinued during the month of August 2000 and are now being handled by a new subsidiary of Bayer AG in India. The Trademark License Agreement between Bayer AG and Bayer (India) Limited in respect of Business group Pharma has been terminated with effect from 27th July,2000. The Company will continue to manufacture the existing products at Thane on Toll basis for the new subsidiary.Bayer CropScience India Ltd was amalgamated with the company with effect from April 1, 2003. The company sold the assets of the Household Insecticide Business of the Consumer Care Division of the company to S C Johnson Products Ltd. The company incorporated a wholly owned subsidiary named Bayer Polychem (India) Ltd on September 15, 2003. The non-cropscience businesses of the company comprising of Healthcare, Polymers and Chemicals were transferred to the Bayer Polychem (India) Ltd with effect from November 1, 2003. The company name was changed from Bayer (India) Ltd to Bayer CropScience Ltd.In the year 2004, the company had entered into an agreement with BASF India Ltd for the transfer of the Fipronil activities to BASF India. The chemical business and part of the polymers business of Bayer Polychem (India) Ltd has been transferred to Lanxess India Pvt Ltd during the year in the a strategic realignment of the Bayer Group, worldwide. Also, the Material Science business of the company has been transferred to Bayer MaterialScience Pvt Ltd.During the year 2006, the company successfully launched two products namely Admire 70WG, an Insecticide for sucking pests in various crops and Dadeci, an Insecticide for brown plant hopper control in Rice. In June 2007, the company sold the shares of their subsidiary company Bayer Polychem India Ltd to Bayer MaterialScience Pvt Ltd for the consideration of Rs 3.90 crore.On 29 November 2012, Bayer CropScience announced that it has entered into two separate agreements and executed all other incidental documents for the sale of the companys Land and Building situated at Thane near Mumbai to Agile Real Estate Private Limited (Agile) for total consideration of Rs 1250 crore. The execution of the deed of conveyance in favour of Agile shall be undertaken subsequently. The Board of Directors of the company at its meeting held on 22 July 2013 unanimously approved a buyback proposal for purchase by the company of upto 28.79 lakh equity shares (representing 7.29% of the total equity capital), from all the shareholders of the company on a proportionate basis through the Tender Offer route at a price of Rs 1,580 per equity share, aggregating to approximately Rs 455 crore. The Board noted the intention of the Promoter Group of the Company to participate in the proposed Buyback.On 13 September 2013, Bayer CropScience announced that it has entered into a business transfer agreement with Deccan Fine Chemicals (India) Private Limited to sell, convey, assign and transfer its chemical manufacturing facility located at GIDC Industrial Estate, Ankleshwar, Gujarat as a going concern on a slump sale basis for a total consideration of Rs 127.18 crore.On 30 September 2013, Bayer CropScience announced that it has signed as asset transfer agreement with Bayer MaterialScience Pvt. Ltd. to sell and transfer all the assets related to the manufacturing activity of Poly-isocyanate products at its unit located at Ankleshwar, Gujarat for a total consideration of Rs 22.94 crore to Bayer MaterialScience Pvt. Ltd.The Board of Directors of Bayer CropScience at its meeting held on 3 June 2015 unanimously approved a buyback proposal for purchase by the company of upto 12.65 lakh equity shares (representing 3.45% of the total equity capital), from all the shareholders of the company on a proportionate basis through the Tender Offer route at a price of Rs 4,000 per equity share aggregating to approximately Rs 506 crore. The Board noted the intention of the Promoter Group of the Company to participate in the proposed Buyback.The Board of Directors of Bayer CropScience at its meeting held on 6 June 2017 unanimously approved a buyback proposal for purchase by the company of upto 10.20 lakh equity shares (representing 2.89% of the total equity capital), from all the shareholders of the company on a proportionate basis through the Tender Offer route using the stock exchange mechanism at a price of Rs 4,900 per equity share, aggregating to approximately Rs 500 crore. The Buyback size does not include any expenses incurred or to be incurred for the buyback like filling fees, advisory fees, public announcement expenses, printing and dispatch expenses, and other incidental and related expenses. The Board noted the intention of the Promoter Group the Company to participate in the proposed Buyback.