- Business
- IGC Industries Limited engages in the trading and distribution of textile products in India. The company offers a wide range of fabrics and related merchandise, including cotton, silk, art silk, rayon, synthetic fibres, staple fibres, polyester, worsted, wool, hemp, yarn, cloth, linen, jute, and other textile felted, netted, or looped goods; it markets these products to the garments, coverings, and home furnishings sectors, as well as farmers, suppliers, and distributors. Incorporated in 1980 and headquartered at 12 Government Place East, Esplanade, Kolkata, West Bengal, the company operates primarily in the textiles industry with minimal employees, around 2-3, and has no significant subsidiaries. In recent developments, IGC Industries completed a rights issue in November 2024, raising funds that increased its paid-up equity share capital to INR 34.72 crore, and its board approved the acquisition of a substantial stake in CNX Corporation Limited through a share swap valued at approximately INR 290-314 million, with deliberations ongoing into 2025 including board meetings in January 2025 to finalize terms. Additionally, the company appointed Manoj Kumar Jhawar as Additional Executive Director in September 2025 and faced auditor resignation in August 2025 amid concerns over fund utilization and going concern issues, while reporting initial revenue of INR 198.51 lakh for FY2025 from nascent business activities.