'Material Update in Connection with Ennature Bio Pharma Limited with reference to Observation letter no…
As filed · India Glycols Limited has informed the Exchange regarding 'Material Update in Connection with Ennature Bio Pharma Limited with reference to Observation letter no. NSE/LIST/48932 dated 17th November, 2
What happened
FactPharma Limited (“EBL”), through its letter dated 7th September, 2026, has communicated.
Why it matters
CapitSignal interpretationA merger fixes a share-exchange ratio, which permanently sets how much of the combined company existing holders own.
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Demand
ContradictedWe are looking at doubling our volumes in the Amrut whiskey segment, the three whiskies that we make with them, we are looking at a healthy 10,000 plus kind of a volume as far as the single malt is concerned in the states where we operate.
We are looking at defense giving us an all-India footprint with the introduction of three to four new brands.
Change
FactImplication
CapitSignal interpretationDemand
WithdrawnWe are looking at defense giving us an all-India footprint with the introduction of three to four new brands.
You will find our revenue growth exceeding the volume growth in due course of time because of the premium mix.
Change
FactImplication
CapitSignal interpretationGuidance
Revisedwe are aspiring to do a INR130 crores to INR150 crores EBITDA over the next four or five years.
We expect to deliver an EBITDA in excess of INR500 crores.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Swap ratio and its valuation basis
- Regulatory and NCLT approvals required
- Appointed date
- 2x IMFL Volumes through new brand launches by FY27 (management committed by FY27)
- Aspire to Deliver in EBITDA over INR 550Cr by FY27 (management committed by FY27)
Evidence
- India Glycols Limited has informed the Exchange regarding 'Material Update in Connection with Ennature Bio Pharma Limited with reference to Observation letter no. NSE/LIST/48932 dated 17th November, 2025 and no. DCS/AMAL/TS/R37/3905/2025-26 dated 19th November, 2025 ("Observation Letters"), issued by the National Stock Exchange of India Limited and BSE Limited (collectively the "Stock Exchanges"), respectively, received in relation to the Scheme of Arrangement.'.(opens the original filing in a new tab)
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
How CapitSignal classified this
- Reasoning:
- MERGER base 74; +5 quantified amount; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%