Pursuant to Regulation 30 and Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015 (‘SEBI Listing Regulations’), India Glycols has informed that the Board of Directors of the Company in its meeting held on 31st October, 2022 has, considered and approved the execution of a Share Purchase Agreement (‘SPA’) for sale of Company’s entire investment in equity shares in joint venture namely Kashipur Infrastructure and Freight Terminal (‘JV Co’) to Gateway Distriparks (‘the Buyer’). Also, on and from the closing date as mentioned in the SPA, the existing shareholders and share subscription agreement dated 30th September 2014 entered into by and between the Company, Apollo Logisolutions, a JV partner and JV Co shall stand terminated. The disclosure as required under Schedule III of the SEBI Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September 2015 is attached and marked as Annexure A to this letter. The above said Board Meeting commenced at 16.21 Hrs. and concluded at 16.36 Hrs.
The above information is a part of company’s filings submitted to BSE.
