India Glycols Limited submitted a material update disclosure to BSE Limited and National Stock Exchange of India Limited regarding Ennature Bio Pharma Limited (EBL). This disclosure was made pursuant to Observation letters no. NSE/LIST/48932 dated 17th November, 2025 and no. DCS/AMAL/TS/R37/3905/2025-26 dated 19th November, 2025 issued by the stock exchanges, and SEBI Master Circular No. HO/4911 411 4(7)2025-CFD-POD211 13762/2026 dated 30th January, 2026 (as amended).
The enclosed communication from EBL dated 8th September, 2026 detailed that its Board of Directors approved several items at a meeting held on the same date:
1. Share Allotment:
- Allotment of 2,23,42,255 (Two Crore Twenty Three Lakh Forty Two Thousand Two Hundred Fifty-Five) fully paid-up equity shares of ₹5 each
- Allotment ratio: 1:3 to eligible shareholders of India Glycols Limited
- Record Date: 2nd September, 2026
- The newly allotted shares will rank pari passu with existing equity shares of EBL
2. Key Managerial Appointments:
- Ajay Sharma appointed as Chief Financial Officer & Key Managerial Personnel
- Seasoned business finance professional with 20+ years experience across Pharma & Automotive industries
- Previously associated with India Glycols Ltd since November 2021
- Holds MBA in Finance and Bachelor of Commerce from Delhi University
- Expertise in corporate finance, strategic treasury management, enterprise risk governance, taxation, financial planning & analysis (FP&A), regulatory compliance, fund management, capital planning, ERP/digital transformations, and operational cost optimization
- Preeti Choudhary appointed as Company Secretary, Key Managerial Personnel & Compliance Officer
- Associate Member of Institute of Company Secretaries of India (ACS: 21658)
- Age 44 years (born 9th August, 1981)
- Law graduate
- Experience in Corporate Secretarial, Listing Compliances, Merger & Demergers, Corporate Law, Compliance Management, RBI compliance for NBFCs
- Previously served as Company Secretary at Kashipur Holdings Limited (promoter of India Glycols Limited)
- Prior assignments include Runeecha Textiles Limited, PACL India Limited, and NTT Communications Networks
3. Auditor Appointments:
- M/s Mukesh Agarwal & Co., Company Secretaries appointed as Secretarial Auditor
- Firm registration number: S2001DE039700
- Peer Review Certificate No.: 1875/2022
- Partnership firm of practicing company secretaries
- Founded in 2001, providing comprehensive corporate and secretarial services
- Appointment for 5 consecutive years from FY 2026-27 to 2030-31, subject to shareholder approval
- M/s S.S. Kothari Mehta & Co. LLP, Chartered Accountants appointed as Internal Auditor
- Firm Registration No.: 000756N/N500441
- Head office in New Delhi with pan-India presence
- Consists of 19 partners and other qualified multi-discipline professionals
- Over 5 decades of multi-industry experience
- Appointment for financial year 2026-27
4. Additional Approval:
- Approval of Information Memorandum for making necessary application with Stock Exchanges for listing and obtaining trading approval for the equity shares allotted pursuant to the Scheme
The disclosure confirms that there are no relationships between directors in case of these appointments.
This update relates to the Scheme of Arrangement amongst India Glycols Limited, Ennature Bio Pharma Limited, IGL Spirits Limited and their respective shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.