IG Petrochemicals Limited (IGPL) has officially completed its acquisition of IG Biofuels Ltd., marking a significant milestone in the company's strategic expansion. The petrochemicals company confirmed through regulatory filings that IG Biofuels has become its wholly owned subsidiary, effective December 9, 2025.

Official Confirmation and Regulatory Filing

The company made the announcement through official letters to both BSE Limited and The National Stock Exchange of India Ltd. on December 10, 2025. The communication was signed by Company Secretary Sudhir R. Singh, confirming the completion of the acquisition process.

Acquisition Timeline and Background

This acquisition represents the culmination of a strategic process that IGPL had previously disclosed to investors. The company made initial announcements regarding this move in May 2023 and provided updates in November 2025, demonstrating a systematic approach to expanding its business portfolio.

Regulatory Compliance Framework

IGPL has maintained full compliance with regulatory requirements by making timely disclosures under Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The official communication referenced previous letters dated May 18, 2023, and November 3, 2025, ensuring complete transparency with shareholders and market participants.

Strategic Business Implications

The acquisition of IG Biofuels Ltd. represents a significant consolidation move for IG Petrochemicals. By bringing IG Biofuels under complete ownership, IGPL strengthens its position in the petrochemicals sector while potentially expanding into the biofuels market segment. This strategic move aligns with the company's growth objectives and portfolio diversification plans.

The completion of this acquisition may create opportunities for operational synergies, enhanced market presence, and expanded product offerings. As the integration process moves forward, stakeholders will be monitoring how this strategic development impacts IGPL's overall business performance and market positioning in subsequent quarters.

IG Petrochemicals Limited has initiated a postal ballot process to seek shareholder approval for the appointment of Sanjoy Datta (DIN 00499015) as an Independent Director. The company's Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, appointed Datta as an Additional Director in the category of Independent Director on November 3, 2025.

Key Details of the Appointment

• Proposed Term: Five years, from November 3, 2025, to November 2, 2030
• Voting Period: November 16, 2025 (9:00 a.m.) to December 15, 2025 (5:00 p.m.)
• Results Declaration: By December 17, 2025

About Sanjoy Datta

Sanjoy Datta brings over 36 years of experience in financial services, consulting, and corporate leadership across India and the Asia Pacific region. His expertise includes:

• Corporate and business strategy
• Growth and M&A
• Finance and governance
• Mentoring founders and CEOs

Professional Background

• Most recently served as Chief Transformation Officer and Executive Committee Member at Deloitte Asia Pacific
• Led the rebuilding of client delivery platforms for a USD 10 billion practice
• Held senior positions in multinational banks, gaining experience in retail, corporate, and investment banking
• Former Global Partner Elect at Monitor Group, advising leading conglomerates on corporate strategy and M&A

Voting Process

The company has engaged the National Securities Depository Limited (NSDL) for e-voting services and appointed Martinho Ferrao as the scrutinizer for the postal ballot process. Shareholders can cast their votes electronically through the NSDL e-voting system.

Board's Recommendation

The Board of Directors recommends the special resolution for the appointment of Sanjoy Datta as an Independent Director for shareholder approval.

IG Petrochemicals Limited's move to appoint Sanjoy Datta as an Independent Director aims to leverage his extensive experience in corporate strategy, finance, and governance to enhance the company's board expertise.