Announced Thu, 20 Aug · 20:11 IST
NCLT approves India Glycols demerger into two new entities
INDIAGLYCO · price
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Price reaction · full curve 14 horizons · vs prior close
—1-day move
₹1100.00
prior close
₹1107.00
base price
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AI summary
NCLT Allahabad approved India Glycols scheme of arrangement. The Biopharma business will move to Ennature Bio Pharma (1 share for every 3 held). The Spirits and Biofuel business will move to IGL Spirits (1 share for every 1 held). Appointed date is 1 April 2026. Shareholders approved with 99.99 percent votes in favour and unsecured creditors with 100 percent. Effective date and record date will be set by the board later.
Likely market impact
Major corporate restructuring. Shareholders will receive shares in the two new entities per the swap ratios once the scheme becomes effective.