Neogen Chemicals Limited has informed the Exchange regarding Outcome of Committee Meeting held on April 18, 2026 - Allotment of 10,00,000 equity shares.
NEOGEN · price
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Neogen Chemicals' Fund Raising Committee has approved the allotment of 10 lakh equity shares to Cadamba Solutions Private Limited, a member of the Promoter Group. The shares were issued at Rs. 1,610 each (including Rs. 1,600 premium), which is 17.02% above the SEBI-prescribed floor price of Rs. 1,375.82. The total fundraising amounts to Rs. 161 crore. Cadamba Solutions held zero shares before this allotment and now holds 10 lakh shares, representing 3.65% of the post-allotment equity capital. The company's paid-up capital increased from Rs. 26.38 crore to Rs. 27.38 crore. The new shares carry a lock-in period of 18 months per SEBI ICDR regulations for promoter group allotments.
Promoter group participation via Cadamba Solutions signals confidence in the company, but the preferential allotment to an insider at a 17% premium to floor price is moderately dilutive to existing shareholders. The Rs. 161 crore raise strengthens the balance sheet.