Neogen Chemicals QIP opens; floor price set at 2189.73 per share
NEOGEN · price
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On the reaction day the stock moved 0.1 pts less than Nifty Microcap 250 and 0.8 pts more than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Neogen Chemicals has opened its Qualified Institutions Placement (QIP) of equity shares with face value of 10 rupees. The Fund Raising Committee set the floor price at 2189.73 rupees per share, calculated under SEBI pricing rules. Relevant date is September 10, 2026. Board approved the QIP on July 24 and shareholders approved on August 21, 2026. The company may offer up to 5% discount on the floor price; final issue price will be decided with lead managers.
QIP opens for institutional investors; floor price set, final issue price pending. Likely to dilute existing shareholders depending on size and demand.