Ennature Bio Pharma allots shares, appoints CFO in merger update
- Ennature Bio Pharma allotted 2.23 crore shares to India Glycols shareholders at a 1:3 ratio
- Ajay Sharma appointed as CFO; Preeti Choudhary named Company Secretary
- Mukesh Agarwal & Co. appointed as Secretarial Auditor for five years
- Three non-executive directors resigned earlier in September citing personal reasons
*this image is generated using AI for illustrative purposes only.
India Glycols Limited disclosed on September 8, 2026, that Ennature Bio Pharma Limited (EBL) has completed the allotment of equity shares to its shareholders and appointed key managerial personnel. This update addresses observation letters from stock exchanges regarding the ongoing Scheme of Arrangement.
The developments follow EBL’s board meeting on September 8, 2026, which approved the share issuance and new appointments under the merger terms.
Share Allotment
EBL allotted 2,23,42,255 fully paid-up equity shares of ₹5 each to eligible India Glycols shareholders. The allotment was made in a ratio of 1:3 based on the register of members as on the record date of September 2, 2026.
The newly allotted shares rank pari passu with existing equity shares of EBL. The company has approved the Information Memorandum required for listing and trading approval on stock exchanges.
Key Appointments
EBL’s board appointed several key roles to support the transition:
- Ajay Sharma: Appointed as Chief Financial Officer (CFO). He brings over 20 years of experience in pharma and automotive sectors, having been associated with India Glycols since November 2021.
- Preeti Choudhary: Appointed as Company Secretary, Key Managerial Personnel, and Compliance Officer. She is an Associate Member of the Institute of Company Secretaries of India and previously served as CS at Kashipur Holdings Limited.
Auditors and Advisors
The board also approved the appointment of external auditors for the coming financial years:
| Role | Firm | Tenure |
|---|---|---|
| Secretarial Auditor | M/s Mukesh Agarwal & Co. | FY27 to FY31 (5 years) |
| Internal Auditor | M/s S.S. Kothari Mehta & Co. LLP | FY27 |
Previous Director Resignations
This disclosure supplements earlier updates regarding three non-executive directors who resigned from EBL’s board on September 7, 2026, citing personal reasons. The resignations were part of compliance requirements for the Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013.
| Director Name | DIN | Reason for Change |
|---|---|---|
| Manish Chandra Pant | 08850173 | Personal reasons |
| Bhupendar Pal Singhal | 08850152 | Personal reasons |
| Shashi Kant Shukla | 07117368 | Personal reasons |
Akshay Bansal, Executive Director of EBL, had confirmed these exits in correspondence with India Glycols. The filings reference SEBI Master Circular No. HO/4911 411 4(7)2025-CFD-POD211 13762/2026 dated January 30, 2026.
Historical Stock Returns for India Glycols
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.80% | +15.95% | -74.64% | -64.80% | -65.18% | -26.11% |
When is the expected timeline for Ennature Bio Pharma's shares to begin trading on stock exchanges following the submission of the Information Memorandum?
How might the 1:3 share allotment ratio impact the immediate liquidity and market capitalization of India Glycols' parent company post-merger?
What specific strategic initiatives has the newly appointed CFO, Ajay Sharma, outlined to integrate India Glycols' financial operations with Ennature Bio Pharma?
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