India Glycols gains on incorporating wholly owned subsidiary
India Glycols is currently trading at Rs. 1207.45, up by 10.60 points or 0.89% from its previous closing of Rs. 1196.85 on the BSE.
The scrip opened at Rs. 1209.95 and has touched a high and low of Rs. 1209.95 and Rs. 1188.20 respectively. So far 1697 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1545.00 on 14-Oct-2024 and a 52 week low of Rs. 685.00 on 05-Jun-2024.
Last one week high and low of the scrip stood at Rs. 1209.95 and Rs. 1108.95 respectively. The current market cap of the company is Rs. 3705.63 crore.
The promoters holding in the company stood at 61.01%, while Institutions and Non-Institutions held 4.83% and 34.15% respectively.
India Glycols has incorporated ‘IGL Spirits’ as its wholly owned subsidiary (WOS) company. The WOS company will carry on business of Spirits and related products. The company will initially subscribe to 10,000 equity shares at face value of Rs 10 each aggregating to Rs 1,00,000 in cash. Upon allotment of shares, the new wholly owned subsidiary would be a related party to the company.
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.
