Neogen Chemicals Limited announced the successful completion of its Qualified Institutional Placement (QIP), raising approximately ₹599.99 crore. The issue price was fixed at ₹2,255 per Equity Share, including a premium of ₹2,245, which was higher than the floor price. This placement involved the allotment of 26,60,753 Equity Shares to eligible Qualified Institutional Buyers (QIBs), significantly increasing the company’s paid-up equity share capital.
Neogen Chemicals Completes Large Qualified Institutional Placement
Neogen Chemicals Limited has successfully concluded its Qualified Institutional Placement (QIP) issue, raising a substantial amount of approximately ₹5,99,99,98,015.00 (Rupees Five hundred ninety-nine crore ninety-nine lakh ninety-eight thousand and fifteen only). The company’s Fund-Raising Committee, in a meeting held on September 16, 2026, approved the issue and allotment of 26,60,753 Equity Shares to eligible Qualified Institutional Buyers (QIBs).
Issue Price and Allotment Details
The Equity Shares were issued at a price of ₹2,255 per share, which comprised a face value of ₹10 and a premium of ₹2,245. This issue price was notably higher than the determined floor price of ₹2,189.73. The QIP issue officially opened on September 10, 2026, and closed on September 16, 2026.
Impact on Share Capital
Following the allotment of these shares, the company’s paid-up equity share capital has seen an increase. It has risen from ₹2,73,81,674 (consisting of 2,73,81,674 Equity Shares of ₹10 each) to ₹30,04,24,270 (consisting of 3,00,42,427 Equity Shares of ₹10 each). These newly allotted equity shares are set to be listed on both the BSE Limited and the National Stock Exchange of India Limited, ranking pari passu with the existing equity shares.
List of Major Allottees
The announcement also details the list of allottees who have been allocated more than 5% of the Equity Shares offered in the QIP. Key investors include entities such as ICICI Prudential Commodities Fund, ICICI Prudential Mid Cap Fund, Invesco India Small Cap Fund, and Mirae Asset Aggressive Hybrid Fund, among others. SBI Life Insurance Co. Ltd. was also a significant allottee.
Source: BSE
