Neogen Chemicals Approves Rs 161 Crore Preferential Issue to Promoter Group

Neogen Chemicals Limited approved the issuance of 10,00,000 equity shares of Rs. 10 face value each at Rs. 1,610 per share (including Rs. 1,600 premium), aggregating Rs. 161 crores, through preferential allotment.

The Board, in a meeting held from 1:15 p.m. to 1:45 p.m. on March 7, 2026, approved the preferential issue to Cadamba Solutions Private Limited (promoter group entity) at a price 17.02% above the SEBI ICDR floor price of Rs. 1,375.82, calculated using the relevant date of February 27, 2026. Post-allotment, Cadamba's holding rises from zero to 3.65%, with shares locked-in for 18 months per Regulation 167 of SEBI ICDR Regulations, 2018.

An Extraordinary General Meeting (EGM) is scheduled for March 29, 2026, at 11:30 a.m. via VC/OAVM to seek shareholder approval, subject to SEBI exemption under Regulation 300 (following inter-se promoter transfers on December 31, 2025, per SEBI SAST exemption order dated December 30, 2025). March 20, 2026, is the record date for e-voting eligibility; register of members closes March 21-29, 2026.

Shares of Neogen Chemicals Limited was last trading in BSE at Rs. 1330.00 as compared to the previous close of Rs. 1394.65. The total number of shares traded during the day was 1362 in over 204 trades.

The stock hit an intraday high of Rs. 1390.35 and intraday low of 1325.00. The net turnover during the day was Rs. 1855168.00.

Source : Equity Bulls

Keywords

NeogenChemicals INE136S01016 SpecialtyChemicals FundRaising PreferentialIssue