The shares of India Glycols Limited (IGL) were trading at ₹1,142.00, up by ₹39.85 or 3.62 per cent, on the NSE today at 10.44 am.
India Glycols Limited (IGL) announced on November 13, its entry into India’s premium alcoholic beverages market through a brand licensing agreement with Bangalore-based Amrut Distilleries. Under the partnership, IGL will manufacture, distribute, and sell select Amrut brands in North India.
The agreement grants IGL rights to produce and market four of Amrut’s premium brands: MaQintosh Whisky, Old Port Rum, Bejoice XO Brandy, and MaQintosh White Label Whisky. Amrut will oversee the blending process and ensure quality standards for packaging materials.
IGL’s Advising President IMFL, Raju Vaziraney, stated the company aims to capture a double-digit market share in the premium segment within two years. The move comes as premium alcoholic beverage demand reaches record highs in India.
The specialty chemicals company currently operates distilleries in Kashipur (Uttrakhand) and Gorakhpur (Uttar Pradesh), producing Extra Neutral Alcohol (ENA) and regular liquor brands. Its Soulmate Whisky brand reportedly sold over a million cases last year.
The partnership strategically positions IGL in India’s brown spirits market, where whisky accounts for 58 percent of Indian Made Foreign Liquor (IMFL) consumption, with rum and brandy also holding significant market shares.
