Announced Thu, 17 Sept · 24:22 IST
Neogen Chemicals raises about 600 crore via QIP at premium to floor price
NEOGEN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+7.5%1-day move
₹2302.00
prior close
₹2300.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+1.5+2.9+2.2+2.0+7.5+2.7————————
Up moveDown movePending
AI summary
Neogen Chemicals has allotted 26,60,753 equity shares at Rs 2,255 each through a Qualified Institutional Placement, raising about Rs 600 crore (Rs 5,99,99,98,015). The issue price is higher than the floor price of Rs 2,189.73. Marquee allottees include ICICI Prudential, Invesco, Mirae Asset, SBI Life Insurance, WhiteOak Capital, Axis Mutual Fund and Abu Dhabi Investment Authority. Paid-up equity capital rose from Rs 27.38 crore to Rs 30.04 crore.
Likely market impact
About 10% equity dilution, but raise priced at a premium with strong demand from top mutual funds and a sovereign wealth fund, supporting growth plans.