Neogen Chemicals Limited has informed the Exchange regarding 'Disclosure under regulation 29(1) and 29(2) of SEBI SAST Regulations'.
NEOGEN · price
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On the reaction day the stock moved 2.2 pts less than Nifty Microcap 250 and 1.7 pts less than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Neogen Chemicals Limited informed the exchanges about a disclosure under SEBI Takeover Regulations. Promoter and Chairman Emeritus Haridas Thakarshi Kanani transferred 57,78,500 equity shares (21.90% of paid-up capital) by way of gift through an off-market inter-se transfer on December 31, 2025. Of these, 52,76,500 shares (20%) went to Haridas Kanani Family Trust and 5,02,000 shares (1.90%) to H T Kanani Family Trust. After the transfer, Haridas Kanani's individual holding fell from 23.33% to just 1.42%, while both family trusts are being added to the promoter and promoter group category. SEBI granted an exemption under Regulation 11(5) via its order dated December 30, 2025, allowing this transfer without triggering open offer obligations. The aggregate promoter and promoter group holding remains unchanged at 23.33%.
This is a family-level reorganization of promoter holdings, not an actual change in promoter control. Shareholders should see no impact on stock price as the total promoter stake stays the same, though it signals succession planning with the next generation's family trusts taking over a significant portion of the promoter's stake.