India Glycols Limited announced that the Hon'ble National Company Law Tribunal (NCLT), Allahabad Bench, has allowed the first motion application filed for the Scheme of Arrangement. This scheme involves the demerger of the Bio Pharma Undertaking into Ennature Biopharma Limited and the Spirits and Biofuel Undertaking into IGL Spirits Limited, from India Glycols Limited.

The NCLT's order dated 15th January 2026 directed the convening of separate meetings for Equity Shareholders and Unsecured Creditors of India Glycols Limited. Meetings for Secured Creditors of India Glycols Limited, and Equity Shareholders and Creditors of Ennature Biopharma Limited and IGL Spirits Limited were dispensed with, given the high consent percentages received.

The appointed date for the Scheme is 01st April 2026. The Scheme aims to segregate and unbundle the businesses, allowing each to have a clear focus, improve management and resource allocation, attract focused investors, and manage capital based on specific needs. The demerger is expected to enhance operational efficiency and unlock value for stakeholders.

Meetings for Equity Shareholders of India Glycols Limited are scheduled for Monday, 9th March 2026, at 11:00 AM, and for Unsecured Creditors at 2:00 PM on the same day, to be conducted through video conferencing with remote e-voting facility.