India Glycols Limited has informed the Exchange regarding Notice of Court Convened General Meeting to be held on March 24, 2026
INDIAGLYCO · price
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India Glycols Limited has issued a notice for a meeting of its equity shareholders on March 24, 2026 (11:00 AM IST) via video conferencing, ordered by the NCLT Allahabad Bench. The purpose is to consider and approve a Scheme of Arrangement under Sections 230-232 of the Companies Act, 2013. Under the scheme, India Glycols (Demerged Company) will demerge/arrange its businesses into two Resulting Companies: Ennature Biopharma Limited and IGL Spirits Limited. Shareholders can vote via remote e-voting from March 20-23, 2026, with March 17, 2026 as the cut-off date. The scheme requires approval by majority in number representing three-fourths in value of shareholders present and voting.
This is a procedural step in an ongoing demerger/restructuring where shareholders will vote on spinning off business verticals into separate listed entities (Ennature Biopharma and IGL Spirits). Share entitlement ratios have already been determined by a registered valuer. Approval at this meeting would move the scheme closer to implementation, potentially leading to separate listed entities and share entitlements for existing shareholders based on the share entitlement ratio.