Neogen Chemicals Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on March 29, 2026.

Neogen Chemicals has issued a corrigendum to its EGM notice (originally circulated on March 7, 2026) after NSE and BSE sought clarifications on its proposed preferential issue. The updated disclosure specifies that the issue proceeds will be used to invest Rs. 100 crore in its wholly-owned subsidiary Neogen Ionics Limited (NIL) for lithium-ion battery materials, Rs. 21 crore for working capital, and Rs. 40 crore for general corporate purposes — totaling roughly Rs. 161 crore. The preferential issue price is set at Rs. 1,610 per share, a premium over the floor price of Rs. 1,375.82. Promoter-group entity Cadamba Solutions Private Limited is the proposed allottee for 10 lakh equity shares. The corrigendum also discloses an inter-se transfer of shares by promoters Haridas Kanani and Beena Kanani to their respective family trusts via gift (a non-commercial internal reorganization approved by SEBI exemption order). NIL's larger Pakhajan-Dahej project remains at an estimated capex of ~Rs. 1,500 crore with peak revenue potential of Rs. 2,500–2,950 crore.