India Glycols Limited has disclosed a material update regarding its wholly owned subsidiary, IGL Spirits Limited (IGSL), informing the stock exchanges that Manoj Kumar Rai (DIN: 11827771) has been appointed as Additional Director in the category of Executive Director and Key Managerial Personnel, designated as Executive Director & Chief Operating Officer of IGSL. The appointment takes effect from 4th August, 2026, and was approved by the Board of Directors of IGL Spirits Limited at its meeting held on the same date. This disclosure has been made pursuant to the requirements outlined in the Observation Letters issued by the National Stock Exchange of India Limited and BSE Limited, as well as SEBI Master Circular No. HO/4911 411 4(7)2025-CFD-POD211 13762/2026 dated 30th January, 2026 (as amended).

Appointment Details

The key details of the appointment, as communicated by IGL Spirits Limited to India Glycols Limited, are summarised below:

It has been affirmed that Shri Manoj Kumar Rai is not debarred from holding the office of Director by virtue of any SEBI order or any other such authority, in terms of BSE Circular LIST/COMP/14/2018-19 and NSE Circular NSE/CML/2018/24 dated 20th June, 2018.

Profile of Manoj Kumar Rai

Mr. Manoj Kumar Rai, aged 53 years, is a seasoned business leader with over 27 years of experience across the engineering, consumer goods, entertainment, and alcoholic beverages industries. He brings deep expertise in business strategy, P&L management, commercial excellence, and business transformation.

His academic credentials and professional background are as follows:

• Education: Postgraduate Diploma in Business Management from the Indian Institute of Management, Lucknow, and a Bachelor of Technology from the Indian Institute of Technology, Delhi
• Immediate Previous Employment: Chief Revenue Officer at Allied Blenders and Distillers Limited
• Past Organisations: Pernod Ricard India, Marico Industries, Saregama India, among others

Regulatory Context

This material update pertains to the ongoing Scheme of Arrangement amongst India Glycols Limited, Ennature Bio Pharma Limited, and IGL Spirits Limited and their respective shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. The disclosure was made with reference to Observation Letter No. NSE/LIST/48932 dated 17th November, 2025 issued by the National Stock Exchange of India Limited and No. DCS/AMAL/TS/R37/3905/2025-26 dated 19th November, 2025 issued by BSE Limited. India Glycols Limited had earlier communicated the appointment of Shri Manoj Kumar Rai as Chief Operating Officer of IGL Spirits Limited vide its letter no. IGL/SE/2026-27/20 dated 2nd July, 2026. The present disclosure formalises his elevation to the additional role of Executive Director and Key Managerial Personnel. The communication was signed by Ankur Jain, Head (Legal) & Company Secretary of India Glycols Limited, on 4th August, 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.