Disclosure under SEBI Listing Regulations

Scheme Details

The Scheme of Arrangement is amongst India Glycols Limited ("Demerged Company"), Ennature Bio Pharma Limited ("Resulting Company 1"), and IGL Spirits Limited ("Resulting Company 2") and their respective shareholders. The Scheme was sanctioned by the Hon'ble National Company Law Tribunal (NCLT), Allahabad Bench.

Effective Date and Filing

On 1st September 2026, all companies involved filed the certified true copy of the NCLT Order with the Registrar of Companies, Uttarakhand. Accordingly, in terms of Clause 24 of the Scheme, the Effective Date of the Scheme is 1st September 2026.

Status Change

The Scheme contemplating the Demerger has now become effective. As a result, IGL Spirits Limited and Ennature Bio Pharma Limited have ceased to be subsidiaries of India Glycols Limited.

Business Segments and Financials

  • India Glycols Limited will house chemicals, glycols, bio-glycols, new specialty products, and industrial gases businesses. Reported net revenue of ₹345 crore in June 2026 quarter. Already listed on BSE and NSE.
  • IGL Spirits Limited will house spirits business including IMFL, country liquor, and bio-fuel businesses. Reported net revenue of ₹694 crore in June 2026 quarter. Management will apply to BSE and NSE for listing of its shares.
  • Ennature Bio Pharma Limited will house bio-pharma and bio-polymers businesses. Reported net revenue of ₹90 crore in June 2026 quarter. Management will apply to BSE and NSE for listing of its shares.

Shareholding Pattern and Entitlement

The Record Date for the Scheme is 2nd September 2026. Each shareholder of India Glycols on this date will be entitled to receive:

  • 1 equity share of IGL Spirits Limited for every 1 equity share held in India Glycols Limited
  • 1 equity share of Ennature Bio Pharma Limited for every 3 equity shares held in India Glycols Limited

Example Allocation

A shareholder holding 300 India Glycols shares on September 2, 2026 will receive:

  • 300 equity shares of IGL Spirits Limited
  • 100 equity shares of Ennature Bio Pharma Limited
  • Retains 300 equity shares in India Glycols Limited

Total holding across three entities: 700 shares

Benefits of Demerger

The demerger creates three separate companies with clear business focus, enabling:

  • Improved management oversight
  • More efficient allocation of resources towards growth
  • Independent capital, investment, and resource management based on specific business requirements
  • More efficient utilization of capital