Neogen Chemicals Limited has announced the successful closure of its Qualified Institutions Placement (QIP) on September 16, 2026. The company issued 26,60,753 equity shares at an issue price of ₹2,255 per share, including a premium of ₹2,245. This placement was made to eligible qualified institutional buyers, further strengthening the company’s capital base.
Neogen Chemicals Closes Qualified Institutions Placement
Neogen Chemicals Limited has successfully concluded its Qualified Institutions Placement (QIP) today, September 16, 2026. This decision follows the receipt of application forms and funds from eligible qualified institutional buyers (QIBs) for an aggregate of 26,60,753 equity shares. The issue period for the QIP, which commenced on September 10, 2026, has now been officially closed.
Issue Price and Share Allocation
The Fund-Raising Committee of Neogen Chemicals, in consultation with the appointed lead managers, has determined and approved the issue price for the QIP. A total of 26,60,753 equity shares of face value ₹10 each will be allotted to eligible QIBs at a price of ₹2,255 per equity share. This price includes a premium of ₹2,245 per equity share, reflecting strong investor confidence.
Placement Document and Future Steps
The placement document, dated September 16, 2026, related to the QIP has been approved and adopted by the committee. Furthermore, the committee has approved and finalized the confirmation of allocation notes that will be sent to the eligible QIBs. Neogen Chemicals will also be filing the placement document with the relevant authorities. Information regarding the QIP is available on the company’s website.
Source: BSE
