Neogen Chemicals Limited has informed the Exchange regarding 'Disclosure under regulation 7(2) of SEBI PIT regulations'.
NEOGEN · price
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Awaiting price reaction for this filing.
Haridas Thakarshi Kanani, Promoter and Chairman Emeritus of Neogen Chemicals, transferred 57,78,500 equity shares (21.90% of paid-up capital) to two family trusts — Haridas Kanani Family Trust (52,76,500 shares, ~20%) and H T Kanani Family Trust (5,02,000 shares, ~1.90%) — via an off-market gift transaction on December 31, 2025. SEBI had granted an exemption order (dated December 30, 2025) allowing the trusts to be classified as Promoter/Promoter Group shareholders post-acquisition. As a result, Kanani's direct personal holding dropped sharply from 61,53,887 shares (23.33%) to just 3,75,387 shares (1.42%). The reference market price was Rs. 1,163.20 per share based on NSE closing on December 30, 2025.
This is a restructuring of promoter holdings via family trusts rather than a market sale, so there is no cash outflow or change in ultimate promoter control. Short-term, the stock is unlikely to see pressure since no shares hit the open market; long-term, the move consolidates the Kanani family's stake within trust structures, which could affect how future dividends and voting rights are exercised.