India Glycols Limited (IGL) successfully conducted its Extraordinary General Meeting (EGM) on November 12, 2025, securing shareholder approval for a significant corporate action. The meeting, held through video conferencing, saw strong participation and resulted in the passage of a special resolution for the issuance of equity shares on a preferential basis.

Key Highlights of the EGM

• Meeting Details: The EGM was held on Wednesday, November 12, 2025, at 11:00 A.M. (IST) via video conference.
• Attendance: A total of 41 members participated in the meeting.
• Chairman: The meeting was chaired by Shri U.S. Bhartia, Chairman of India Glycols Limited.
• Voting Period: Remote e-voting was available from November 8-11, 2025, with additional e-voting facility provided during the EGM.

Voting Results

The special resolution to approve the issuance of equity shares on a preferential basis received overwhelming support from shareholders:

Procedural Highlights

1. Scrutinizer: Shri Ashish Saxena (C.P. No. 7096) of M/s Ashish Saxena & Co., Company Secretaries, was appointed as the scrutinizer for the voting process.
2. Transparency: The company provided remote e-voting facilities and e-voting during the EGM to ensure maximum shareholder participation.
3. Shareholder Engagement: Members were given opportunities to express views, ask questions, and seek clarifications on the proposed resolution.
4. Compliance: The EGM was conducted in compliance with the Securities and Exchange Board of India (SEBI) Listing Regulations and the Companies Act, 2013.

Management Commentary

Shri U.S. Bhartia, Chairman of India Glycols Limited, addressed the shareholders during the EGM and shared information about the rationale behind the preferential issue of shares. The management expressed gratitude for the shareholders' continued support and confidence in the company's strategic decisions.

Conclusion

The successful passage of the special resolution for the preferential issue of equity shares marks a significant step for India Glycols Limited. This corporate action may potentially strengthen the company's capital structure and support its future growth initiatives. Shareholders and market observers will likely keep a close watch on how the company utilizes this mandate in the coming months.

India Glycols Limited continues to demonstrate its commitment to transparent corporate governance and shareholder engagement through its well-organized EGM process and comprehensive disclosure of voting results.

India Glycols Limited (IGL) has successfully completed a capital raise through a preferential share issue, as approved by its Board of Directors. The company has allotted 51,03,765 equity shares at Rs 915 per share, raising a total of Rs 466.99 crore. This move, involving both promoter and non-promoter categories, has altered the company's ownership structure.

Key Details of the Preferential Issue

Allocation of Shares

• Promoter group entity Kashipur Holdings Limited received 21,85,790 shares
• Non-promoter investors were allotted 29,17,975 shares

Impact on Ownership Structure

The completion of this preferential allotment has led to changes in the company's ownership structure:

• Kashipur Holdings Limited's stake has reduced from 50.35% to 49.77%
• As a result, Kashipur Holdings Limited has ceased to be the holding company of India Glycols

Implications for the Company

This capital infusion has several implications for India Glycols:

1. Increased Paid-up Capital: The company's paid-up capital has increased to Rs 33.51 crore following the allotment
2. Strengthened Financial Position: The raised funds of Rs 466.99 crore are expected to bolster the company's financial capabilities
3. Ownership Diversification: The inclusion of both promoter and non-promoter entities in the allotment suggests a more diversified ownership structure
4. Debt Reduction: The funds will be utilized to reduce the company's overall debt, including term loans and working capital, by March 2026

Looking Ahead

As India Glycols moves forward with this corporate action, the company aims to strengthen its financial position and create stakeholder value. The debt reduction plan, set to be implemented by March 2026, is expected to improve the company's financial health. Market participants may monitor how the company utilizes this fresh capital to drive its business strategies and enhance shareholder value. The change in holding company status and the diversification of ownership could influence the company's governance and strategic direction in the coming periods.