India Glycols raises ₹467 crore via preferential allotment of 51 lakh shares

India Glycols Ltd has raised ₹466.99 crore through a preferential allotment of 51,03,765 equity shares, the company told exchanges on Wednesday. The shares, priced at ₹915 each, were allotted on November 24, after approvals from shareholders and regulators.

Of the total issue, 21.85 lakh shares were allotted to Kashipur Holdings Ltd — part of the promoter group — while the remaining 29.17 lakh shares were issued to a mix of funds and other non-promoter investors. Listing and trading approvals for

the newly issued shares are currently under process, the company said.

India Glycols plans to use the proceeds to pare debt, including term loans and working capital borrowings, by the end of March 2026. “The Company remains committed to further strengthening its financial position,” the firm noted in the filing, adding that lowering leverage remains a priority for sustaining growth.

The company also reiterated its ongoing restructuring plans, including a proposed Scheme of Arrangement involving Ennature Biopharma Ltd and IGL Spirits Ltd, which recently received no-objection from stock exchanges and is now before the National Company Law Tribunal.

Shares of India Glycols closed at ₹1,104.70 on Wednesday, up 0.08% on the NSE.