India Glycols Ltd

India Glycols Demerger Gets NCLT Nod 🏛️ | New Structure Takes Shape

- NCLT, Allahabad Bench, has approved the Scheme of Arrangement (demerger) for India Glycols Limited.

- The demerger splits the company into two new resulting companies.

- The Biopharma Undertaking will be transferred to Ennature Bio Pharma Limited.

- The Spirits and Biofuel Undertaking will be transferred to IGL Spirits Limited.

- The Appointed Date for the scheme is 1st April, 2026.

- Shareholders will receive shares in the resulting companies: 1 share in Ennature Bio Pharma for every 3 shares held, and 1 share in IGL Spirits for every 1 share held.

- The scheme was approved by a vast majority of equity shareholders (4,42,48,625 votes in favour out of 4,42,48,626) and unsecured creditors (36 out of 36, representing 100% in value).

- All employees related to the demerged undertakings will be transferred with continuity of service and terms.

- All related assets, liabilities, contracts, licenses, and legal proceedings will be transferred to the respective resulting companies.