India Glycols Limited — Updates, 16-05-2025: Scheme of Arrangement

India Glycols has announced a board meeting to approve a Modified Scheme of Arrangement involving the demerger of its Bio Pharma Undertaking into Ennature Bio Pharma Limited and its Spirits & Biofuel Undertaking into IGL Spirits Limited. This withdraws the earlier composite plan that included Kashipur Holding Limited. Post-demerger, shareholders will receive proportional shares in the two new companies without any change to their overall holding. The move aims to sharpen business focus, unlock value, and support independent growth. Both new entities will be listed on NSE and BSE.