Neogen Chemicals Limited has informed the Exchange about General Updates
NEOGEN · price
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Neogen Chemicals Limited announced that its wholly owned subsidiary, Neogen Ionics Limited, has incorporated a new step-down subsidiary called Neogen Morita New Materials Limited (NMNML) on July 30, 2025. NMNML has an authorised capital of Rs. 5 crore and issued capital of Rs. 10 lakh (1 lakh equity shares of Rs. 10 each), fully subscribed by Neogen Ionics Limited via cash. The new entity will focus on the lithium-ion battery materials space, particularly electrolyte salts, for both internal consumption and global demand. Importantly, the filing reveals that Neogen Ionics Limited is in advanced discussions with Morita Chemicals Industries Co. Limited of Japan to form a Joint Venture in India, and NMNML has been set up specifically to facilitate this JV. NMNML is yet to commence business operations.
This is a positive strategic move signalling Neogen's entry into the fast-growing lithium-ion battery materials segment through a potential partnership with Japan's Morita Chemicals, a globally recognised name in specialty chemicals. While the financial outlay is small (Rs. 10 lakh), the JV could unlock significant long-term value in the EV and energy storage value chain for shareholders.