Khaitan & Co is advising India Glycols Ltd on demerger of bio pharma undertaking and sprits & biofuel undertaking into two separate listed companies, namely, Ennature Bio Pharma Limited and IGL Spirits Ltd. The scheme will unlock value for the shareholders of IGL and has been approved by the stock exchanges and SEBI and is pending approval of the NCLT and shareholders and unsecured creditors.
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The core team consisted of Atul Pandey (Partner), Hirak Mukhopadhyay (Partner) and Varun Yadav (Principal Associate).