India Glycols Limited (IGL) has announced a revised dividend payment following a recent stock split, maintaining its commitment to shareholder returns while adjusting for the new share structure.

Dividend Announcement

The company has declared a dividend of 100% on the new face value of its shares, which translates to Rs. 5.00 per share. This announcement comes after a 2:1 stock split that changed the face value of India Glycols' shares from Rs. 10.00 to Rs. 5.00 each.

Stock Split Details

• The Board of Directors approved the stock split on May 30.
• Shareholders gave their approval through a postal ballot on July 22.
• The record date for the split was set as August 12.

Dividend Timeline and Approval

• The Board initially recommended a 100% dividend when shares had a Rs. 10.00 face value on May 16.
• The revised dividend of Rs. 5.00 per share (post-split) maintains the 100% dividend rate on the new face value.
• The dividend payout is subject to shareholder approval at the upcoming 41st Annual General Meeting scheduled for September 30.

Company's Communication

In a filing to the stock exchanges dated September 22, India Glycols stated, "In view of the above, the dividend at the rate of 100% i.e. Rs. 5/- per Equity Share having face value of Rs. 5/- each would be paid, if approved by the Members at the 41st Annual General Meeting of the Company scheduled on Tuesday, 30th September."

This move by India Glycols demonstrates the company's effort to maintain consistent shareholder returns while adapting to its new share structure. Investors will be keeping a close eye on the upcoming Annual General Meeting for the final approval of this dividend payout.

India Glycols Limited (IGL), a leading manufacturer of green technology-based chemicals, has announced significant changes to its Board of Directors, signaling a strategic refresh in its leadership structure.

New Appointments

The company's Board of Directors has approved the appointment of two new Additional Directors in the category of independent directors:

1. Shri Sushil Dutt Salwan: A Senior Advocate with over 38 years of legal experience, Salwan brings extensive legal expertise to the board.

2. Shri Samrat Banerjee: Co-founder of the Blue Edge investment platform, Banerjee offers three decades of portfolio management experience.

Both appointments are for a five-year term, effective from October 1, 2024, subject to shareholder approval.

Re-appointment

In addition to the new appointments, the board has approved the re-appointment of Smt. Shukla Wassan as an Independent Director for a second five-year term. Wassan, a Fellow Member of the Institute of Company Secretaries of India with extensive board experience across multiple countries, will serve from April 1, 2025, to March 31, 2030, pending shareholder approval.

Departing Directors

The company also announced that four independent directors will be stepping down upon completion of their second terms on September 30, 2024:

1. Mr. Pradip Kumar Khaitan
2. Mr. Jagmohan N. Kejriwal
3. Mr. Ravi Jhunjhunwala
4. Mr. Jitender Balakrishnan

Implications for Corporate Governance

These board changes reflect India Glycols' commitment to maintaining a diverse and experienced leadership team. The new appointments bring fresh perspectives and expertise in legal and investment management, which could prove valuable as the company navigates future challenges and opportunities in the green chemicals sector.

The re-appointment of Smt. Shukla Wassan ensures continuity in governance, while the incoming directors are poised to contribute new insights to the company's strategic direction.

Annual General Meeting

India Glycols Limited has scheduled its 41st Annual General Meeting (AGM) for Tuesday, September 30, 2025, at 11:00 A.M. IST. The meeting will be held through Video Conferencing (VC) or Other Audio Visual Means (OAVM) in compliance with applicable regulations.

Shareholders can access the AGM notice and annual report for FY 2024-25 on the company's website. The company has also provided a web link and QR code for easy access to these documents for shareholders whose email addresses are not registered with the company or its registrar.

India Glycols has emphasized the importance of shareholders updating their PAN and KYC details, particularly for those holding shares in physical form, to ensure smooth dividend payments and compliance with SEBI regulations.

As India Glycols Limited prepares for these leadership transitions, stakeholders will be watching closely to see how the refreshed board will guide the company's future growth and sustainability initiatives in the competitive chemicals industry.