India Glycols has received approval to execute Share Purchase agreement (SPA) and other relevant transaction documents for sale of company’s entire investment in equity and Preference shares in subsidiary Company namely Shakumbari Sugar and Allied Industries (subsidiary company or SSAIL). The sale of the Company’s entire investment in equity shares and preference shares of the subsidiary Company is contemplated in 1 or more tranches to be completed on or prior to May 31, 2023, subject to terms and conditions (including fulfillment of conditions precedent) of the SPA and other relevant transaction documents.
India Glycols manufactures Industrial Chemicals such as green technology based bulk, specialty and performance chemicals and natural gums and industrial gases; Ethyl Alcohol (Potable) and nutraceuticals.
