Announced Fri, 3 Jul · 19:45 IST
NCLT reserves order on India Glycols demerger scheme
INDIAGLYCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-1.1%1-day move
₹1078.95
prior close
₹1095.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.2-0.3-1.1-1.5-1.1-3.7-2.1-1.2+0.7+5.7+9.7———
Up moveDown movePending
AI summary
India Glycols informed exchanges that the NCLT Allahabad Bench has reserved its order on the company's Scheme of Arrangement and Demerger. The scheme demerges India Glycols into Ennature Bio Pharma and IGL Spirits Limited. This was the second motion hearing. A minor income tax demand of about Rs 27,890 was discussed but not seen as a blocker. Final order is now awaited.
Likely market impact
NCLT order reserved, approval may follow soon. If sanctioned, shareholders may receive shares in the two resulting companies.