India Glycols has received an approval for sale of its investment in its wholly owned subsidiary company, IGL Infrastructure, and decided to sell the entire holding of 50,000 equity shares of Rs 10 each of IGL Infrastructure at a value not less than Rs 2.22 crore being the net assets value, as on July 31, 2015, based on the valuation report, as determined by independent Chartered Accountant.
The board of directors at their meeting held on August 10, 2015 has approved for the same. The board of directors approved the sale of the shares at a value of Rs 3 crore.
India Glycols is engaged in the business of manufacturing glycols, ethoxylates and PEGs, performance chemicals, glycol ether and acetates, guar gum and potable alcohol.
