Neogen Chemicals Limited has informed the Exchange about disclosure pursuant to regulation 30(9) read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
NEOGEN · price
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Neogen Chemicals' wholly owned subsidiary Neogen Ionics Limited (NIL) will subscribe to up to 71 lakh equity shares of its step-down subsidiary Neogen Morita New Materials Limited (NML) on a rights issue basis at Rs. 141 per share (face value Rs. 10), aggregating to about Rs. 100.11 crore. NML's authorised share capital is being increased from Rs. 5 crore to Rs. 9.9 crore to facilitate this. NML was incorporated on July 30, 2025, and operates in the lithium-ion battery electrolyte salts space. The funds will be used to acquire a salt business, meet CAPEX/OPEX needs, and for general corporate purposes. The transaction is between group entities (related party), done in cash, and is expected to complete within 60 days.
This is an internal capital infusion into a step-down subsidiary, so it does not cause immediate dilution for Neogen Chemicals shareholders. It signals the group's expansion into lithium-ion battery materials — a high-growth area tied to the EV and energy storage market — and reflects a partnership involving Morita (likely Morita Chemical Industries, Japan), which could be a positive strategic development.