Neogen Chemicals Limited has informed the Exchange regarding allotment of 20000 securities pursuant to Non Convertible Securities at its meeting held on August 12, 2025
NEOGEN · price
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Neogen Chemicals has allotted 20,000 fully paid, secured, listed, rated, redeemable Non-Convertible Debentures (NCDs) on a private placement basis, with a face value of Rs. 1,00,000 each, aggregating to Rs. 200 crores. The NCDs carry a coupon of 10.50% per annum, payable monthly, and have a 30-month tenure maturing on February 12, 2028. The issue was fully subscribed by 7 investors and will be listed on the Wholesale Debt Market segment of BSE. A subservient charge has been created on the company's present and future current and fixed assets, including properties in Vadodara and Bharuch, Gujarat. The company has fixed August 16, 2025 as the first record date, with interest payment due on August 31, 2025.
This is a debt raise of Rs. 200 crores, not an equity dilution, so existing shareholders' ownership is unaffected. The 10.50% coupon adds to the company's interest costs and debt obligations, but the funds will support the company's growth or working capital needs. Equity investors should monitor the purpose of the raise and impact on leverage and earnings.