IG Petrochemicals Limited has informed the Exchange regarding Outcome of Board Meeting held on November 03, 2025.
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IG Petrochemicals' Board met on November 3, 2025 and made three key decisions. First, it appointed Shri Sanjoy Datta (DIN 00499015) as a Non-Executive Independent Director for a 5-year term from November 3, 2025 to November 2, 2030; he brings over 36 years of experience, most recently as Chief Transformation Officer at Deloitte Asia Pacific. Second, the company extended the completion deadline for its plasticizer plant to March 2026, citing reasons not elaborated in this filing. Third, the Board approved an investment of up to Rs. 100 crores in I G Biofuels Ltd (IGBL), a wholly owned subsidiary in the biofuels and compressed bio-gas business, by acquiring 700 shares at face value (Rs. 10 each) from existing shareholders. IGBL has not yet commenced operations, with nil turnover in FY24 and FY25.
The plasticizer plant delay to March 2026 may push back expected revenue contributions from this segment, though no new cost overrun was disclosed. The Rs. 100 crore investment into a yet-to-start biofuels subsidiary signals a diversification push into CBG/ethanol, but execution risk is high given IGBL's nil revenue so far. Shareholders should track plant commissioning timelines and subsidiary capital deployment progress.