NCLT sanctions India Glycols demerger into two new entities

Nclt Scheme FiledDemerger Ratio AnnouncedCore Business DivestedStrategic Transactions View source PDF Explain this filing

INDIAGLYCO · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+0.9%Reaction day

₹1142.00

prior close

₹1149.00

announcement price

After-mkt

timing

Nifty Microcap 250market+0.3%+0.6% vs market

Breweries & Distilleries peers, median of 24sector-1.2%+2.1% vs sector

On the reaction day the stock moved 0.6 pts more than Nifty Microcap 250 and 2.1 pts more than its Breweries & Distilleries peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.7

10m

+1.7

15m

+1.1

30m

+0.8

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.9+0.3+0.6-1.2+2.1

Next day

-0.2-0.9+0.7-1.0+0.8

+3.2-1.5+4.7-1.7+4.9

+1.5-1.1+2.6-0.8+2.2

+3.7+0.2+3.5-0.4+4.1

+0.4-1.1+1.5-1.6+2.0

-1.4-1.2-0.2-0.8-0.6

15d

-6.0+3.1-9.2+1.3-7.3

+0.4+4.5-4.1-2.1+2.4

-77.6+4.5-82.1-1.0-76.6

-73.2-2.2-71.0-9.3-63.9

UpDownMarket · Nifty Microcap 250Sector · Breweries & Distilleries peers, median of 24Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

NCLT Allahabad has sanctioned the Scheme of Arrangement for demerger of India Glycols Bio Pharma undertaking to Ennature Bio Pharma (1 share of Rs 5 for every 3 shares held) and Spirits and Biofuel undertaking to IGL Spirits (1 share of Rs 5 for every 1 share held). Appointed date is 1 April 2026. Equity shareholders approved it unanimously (over 4.42 crore votes in favour). NSE and BSE gave no objection in November 2025. Effective date will be informed later.

Likely market impact

Shareholders of India Glycols will receive shares in Ennature Bio Pharma and IGL Spirits. Watch for record date and effective date announcements.