Neogen Chemicals Limited has informed the Exchange that Record date for the purpose of Preferential Offer / Notice of EGM and other timelines.
NEOGEN · price
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Neogen Chemicals has called an Extra-Ordinary General Meeting (EGM) on Sunday, March 29, 2026 at 11:30 a.m. (via video conferencing) to seek shareholder approval for a preferential issue of 10,00,000 equity shares to promoter group entity Cadamba Solutions Private Limited. The shares will be issued at Rs. 1,610 per share (face value Rs. 10 plus a premium of Rs. 1,600), aggregating to Rs. 161 crores, priced as per SEBI ICDR Regulations with the relevant date set as February 27, 2026. The record date/cut-off for voting eligibility is March 20, 2026, and the e-voting window runs from March 26 (9:00 a.m.) to March 28, 2026 (5:00 p.m.). The shares will be subject to SEBI-mandated lock-in provisions and must be allotted within 15 days of the resolution.
This Rs. 161 crore preferential issue to a promoter group entity signals capital infusion from the promoters, but will dilute existing shareholders. The pricing follows regulatory guidelines, and the move may be viewed as a show of confidence by the promoter group, though minority shareholders will see their stake reduced proportionally.