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

Acquisition Details

• Effective Date: December 9, 2025
• Acquired Company: IG Biofuels Ltd.
• New Status: Wholly owned subsidiary of IG Petrochemicals Limited

Background

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

Regulatory Compliance

IGPL has adhered to the 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. This transparency ensures that shareholders and the market are kept informed of significant corporate actions.

Strategic Implications

The acquisition of IG Biofuels Ltd. represents a consolidation move for IG Petrochemicals. By bringing IG Biofuels under its complete ownership, IGPL may strengthen its position in the petrochemicals sector and potentially expand into the biofuels market.

While the financial details of the transaction have not been disclosed in the current announcement, this acquisition could have implications for IGPL's business structure and future operations. Investors and market analysts may be keen to observe how this strategic move impacts the company's performance and market position in the coming quarters.

As the integration process unfolds, stakeholders may watch for any synergies or new business opportunities that could arise from this acquisition. The move might potentially lead to diversification of IGPL's product portfolio, operational efficiencies, or access to new markets, depending on IG Biofuels' existing capabilities and assets.

IG Petrochemicals Limited's decision to acquire IG Biofuels Ltd. as a wholly owned subsidiary reflects the company's strategic expansion. As more details emerge, the full impact of this acquisition on IGPL's business trajectory and shareholder value may become clearer.

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.