India Glycols Limited’s wholly owned subsidiary, IGL Spirits Limited (IGSL), has appointed Manoj Kumar Rai as Additional Director in the category of Executive Director and Key Managerial Personnel. Designated as Executive Director and Chief Operating Officer, Rai’s appointment takes effect from August 4, 2026, strengthening the leadership team of the spirits arm amid an ongoing Scheme of Arrangement with Ennature Bio Pharma Limited. The move addresses regulatory observations regarding corporate governance and executive oversight within the subsidiary structure.

The Board of Directors of IGL Spirits Limited approved the appointment at its meeting held on August 4, 2026. The role carries a term of five consecutive years, extending until August 3, 2031, subject to shareholder approval. This disclosure follows earlier intimation on July 2, 2026, where Rai was identified as Chief Operating Officer, now formalizing his elevation to the board level as an Executive Director.

Appointment Details

The company affirmed that Rai is not debarred from holding office by any SEBI order or other authority, in compliance with BSE Circular LIST/COMP/14/2018-19 and NSE Circular NSE/CML/2018/24 dated June 20, 2018.

Profile of Manoj Kumar Rai

Manoj Kumar Rai, aged 53, brings over 27 years of experience across engineering, consumer goods, entertainment, and alcoholic beverages sectors. His expertise spans business strategy, P&L management, commercial excellence, and business transformation. He holds a Postgraduate Diploma in Business Management from the Indian Institute of Management, Lucknow, and a Bachelor of Technology from the Indian Institute of Technology, Delhi.

His immediate previous role was Chief Revenue Officer at Allied Blenders and Distillers Limited. Prior to that, he served with Pernod Ricard India, Marico Industries, and Saregama India, among others.

Regulatory Context

This update pertains to the Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013, involving India Glycols Limited, Ennature Bio Pharma Limited, and IGL Spirits Limited. The disclosure responds to Observation Letters from the National Stock Exchange of India Limited (NSE/LIST/48932 dated November 17, 2025) and BSE Limited (DCS/AMAL/TS/R37/3905/2025-26 dated November 19, 2025). It also aligns with SEBI Master Circular No. HO/4911 411 4(7)2025-CFD-POD211 13762/2026 dated January 30, 2026 (as amended). Ankur Jain, Head (Legal) & Company Secretary of India Glycols Limited, signed the communication on August 4, 2026.

india glycols has transferred Senior Managerial Personnel (SMP) Akshay Bansal to its wholly owned subsidiary, Ennature Bio Pharma Limited (EBL), effective July 30, 2026. Consequently, Bansal ceased to be an SMP of the parent company from the close of business hours on July 30, 2026. The transfer is part of a broader organizational restructuring linked to the Scheme of Arrangement between India Glycols and EBL, aimed at addressing specific regulatory observations issued by stock exchanges.

The Board of Directors of EBL approved the appointment of Bansal as Additional Director (Executive Director) and Key Managerial Personnel during its meeting on July 31, 2026. His appointment is effective from July 31, 2026, for a term of five consecutive years, extending until July 30, 2031, subject to shareholder approval. This disclosure serves as a material update in response to Observation Letters received from the National Stock Exchange of India Limited (NSE) dated November 17, 2025, and BSE Limited dated November 19, 2025.

Regulatory Compliance and Disclosures

The intimation was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, read with Para A of Part A of Schedule III and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The filing confirms that Bansal is not debarred from holding the office of Director by virtue of any SEBI order or other authority, in compliance with BSE Circular LIST/COMP/14/2018-19 and NSE Circular NSE/CML/2018/24 dated June 20, 2018.

Executive Profile

Akshay Bansal brings 26 years of experience across the pharmaceuticals, nutraceuticals, and nicotine industries. Prior to this appointment, he served as Head – Sales & Marketing of the Ennature Bio Pharma Division at India Glycols Limited. His professional background includes roles at Mankind Pharma Ltd., Glenmark Generics Ltd., Dishman Group, Alembic Pharmaceuticals Ltd., and Orchid Pharma.

Bansal holds a graduate degree in Hospital Administration and an MBA from Devi Ahilya University, Indore. He also completed a Certificate Programme in General Management (CPGM) from the Institute of Management Studies, Lucknow. His expertise spans manufacturing operations, international commercial strategy, supply chain management, and business development.