Neogen Chemicals Limited has informed the Exchange about Book closure dates.
NEOGEN · price
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Neogen Chemicals has called an Extra Ordinary General Meeting (EGM) on March 29, 2026, at 11:30 a.m. via video conferencing. The book closure period runs from March 21, 2026 to March 29, 2026, with a cut-off date of March 20, 2026 for e-voting eligibility. The sole special business is the issuance of 10,00,000 equity shares (face value Rs. 10) at Rs. 1,610 per share — including a premium of Rs. 1,600 — on a preferential basis to Cadamba Solutions Private Limited, a promoter group entity. The total consideration aggregates to Rs. 161 crores, with pricing based on the SEBI ICDR floor price using February 27, 2026 as the relevant date. Shares allotted will be subject to SEBI-mandated lock-in provisions, and the promoter group has filed for an exemption under Regulation 300 of SEBI ICDR Regulations following inter-se transfers among promoter members on December 31, 2025.
Existing shareholders will see a modest dilution (~10 lakh new shares being issued to the promoter group) and should watch the EGM outcome closely. The capital infusion strengthens the company's equity base at a price above face value, reflecting promoter confidence, though the preferential route means no public subscription opportunity for retail investors.