IGL Spirits Limited (IGSL) has approved the allotment of 6,70,26,765 equity shares of INR 5 each, on a 1:1 ratio, to eligible shareholders of India Glycols Limited. This allotment is a key part of the Scheme of Arrangement involving India Glycols Limited and Ennature Bio Pharma Limited. The approved shares will rank pari passu with existing equity shares. Additionally, new key managerial personnel appointments were confirmed.
IGL Spirits Limited Approves Major Share Allotment
IGL Spirits Limited (IGSL), a subsidiary of India Glycols Limited, has made a significant move under its Scheme of Arrangement. The company’s Board of Directors, in a meeting held on 8th September 2026, approved the allotment of 6,70,26,765 fully paid-up equity shares. Each share has a face value of INR 5/-. This allotment is executed on a 1:1 ratio for eligible shareholders of India Glycols Limited recorded as of the Record Date, 2nd September 2026.
Details of the Share Allotment
The newly allotted equity shares will carry the same rights and privileges as the existing equity shares of IGSL, ranking pari passu in all respects. This allotment is a crucial step in the Scheme of Arrangement that also involves Ennature Bio Pharma Limited, aimed at streamlining corporate structures and enhancing shareholder value.
Key Managerial Appointments
In addition to the share allotment, IGSL’s Board also approved several key appointments to its management team:
- Shri Naresh Kumar Agrawal has been appointed as the Chief Financial Officer & Key Managerial Personnel. He brings 17 years of experience in finance, tax, accounts, and treasury.
- Shri Ishan Khanna has been appointed as the Company Secretary, Key Managerial Personnel & Compliance Officer. He has a decade of experience in corporate secretarial and compliance matters.
- M/s MAKS & Co. has been appointed as the Secretarial Auditor for a period of five years from FY 2026-27 to 2030-31, subject to member approval.
- M/s S.S. Kothari Mehta & CO. LLP has been appointed as the Internal Auditor for the financial year 2026-27.
The company also approved the preparation of an Information Memorandum for seeking necessary approvals from the Stock Exchanges for the listing and trading of the aforementioned allotted equity shares.
Source: BSE
