Indian Glycol Group Realigns Business Segments: A Strategic Merger and Demergers to Enhance Efficiency

India Glycols Limited (“Demerged Company” or “Transferee Company/IGL”) is in the business of manufacturing and marketing of

- Anirudha Jain

Bio-based Specialities & Performance Chemicals such as Bio- Polymers, Green Solvents, Specialty Derivatives, Industrial Gases

• Biopharma

• Biofuels and

• Spirits

The equity shares of IGL are listed on the BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”).

Kashipur Holdings Limited (“Transferor Company/KHL”) is owned by the promoter group of IGL. As on date, KHL holds 50.35% of paid-up equity of IGL. Apart from investments in IGL, KHL only asset is liquid cash which shall be used to discharge the transaction cost including stamp duty.

Ennature Bio Pharma Limited (the “Resulting Company 1/EBL”) engaged in the business of producing nutraceuticals, phytochemicals, and natural plant-based active pharmaceutical ingredients. However, EBL has not generated any revenue since its incorporation. The Resulting Company 1 is a wholly owned Company of the Demerged Company.

IGL Spirits Limited (the “Resulting Company 2/ISL”) is incorporated to facilitate the proposed demerger of “Spirit & Bio-fuel business of IGL” with an object clause of engaging in the business of manufacturing and production of alcoholic & non-alcoholic beverages and ethanol & alcohol and related products. The Resulting Company 2 is a wholly owned Company of the Demerged Company.

The Proposed Transaction