India Glycols incorporates subsidiary IGL Green Chemicals; stock up ~1%

IGCPL shall manufacture Ethanol-based Ethylene Oxide derivatives ‘BioEO (Speciality Chemicals) Business’.

Sep 08, 2020 10:09 IST India Infoline News Service

India Glycols Limited has incorporated a wholly-owned subsidiary namely IGL Green Chemicals Private Limited (IGCPL). The company on June 24, 2020, had decided to transfer the 'BioEO (Speciality Chemicals) Business' to a wholly-owned subsidiary of the company.

“The company has incorporated a wholly-owned subsidiary namely IGL Green Chemicals Private Limited. As per the certificate of incorporation n dated September 6, 2020, issued by the Registrar of Companies, Ministry of Corporate Affairs, the date of incorporation of a wholly-owned subsidiary is August 26, 2020,” company informed the exchanges on Monday.

“It is contemplated that IGCPL shall manufacture Ethanol based Ethylene Oxide derivatives "BioEO (Speciality Chemicals) Business",” it added.

India Glycols Ltd is currently trading at Rs284.35 up by Rs2.65 or 0.94% from its previous closing of Rs281.70 on the BSE. The scrip opened at Rs281.50 and has touched a high and low of Rs284.50 and Rs280.15 respectively.

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