Neogen Chemicals Limited has informed the Exchange regarding allotment of 10,00,000 equity shares pursuant to Preferential Issue at its Fund Raising Committee meeting held on April 18, 2026
NEOGEN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Neogen Chemicals has allotted 10 lakh equity shares to Cadamba Solutions Private Limited, a promoter group entity, at Rs. 1,610 per share (including Rs. 1,600 premium per share). The total fundraising amounts to Rs. 161 crore. The issue price is 17.02% above the SEBI-mandated floor price of Rs. 1,375.82, determined as per ICDR regulations. Post-allotment, Cadamba Solutions holds 3.65% of the company's expanded equity capital, which increased from Rs. 26.38 crore to Rs. 27.38 crore. The shares carry a lock-in period of 18 months as per SEBI ICDR regulations for promoter group allotments.
The preferential allotment to a promoter group entity strengthens the promoter stake by 3.65% without bringing in external institutional capital. The 17% premium to floor price indicates promoter confidence in the company's valuation. Existing shareholders will see minor dilution as share count increases by approximately 3.8%.