Neogen Chemicals surges after raising nearly Rs 600 crore via QIP issue

The fund-raising committee of the board of directors approved the allotment of equity shares under the QIP at its meeting held on 16 September 2026.

The QIP saw participation from from marquee investors such as ICICI Prudential Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund, SBI Life Insurance Company, Whiteoak Capital Mutual Fund, Axis Mutual Fund and Abu Dhabi Investment Authority.

Pursuant to the QIP, the company allotted 26,60,753 equity shares of face value Rs 10 each at an issue price of Rs 2,255 per equity share (including a premium of Rs 2,245 per equity share).

The company would use the net proceeds from the issue for repayment/ pre-payment, in full or part, of certain borrowings availed by our company; funding our long-term working capital requirements; and general corporate purposes.

Neogen Chemicals is India?s one of the leading manufacturers of Bromine-based and Lithium-based specialty chemicals. Its product offerings comprise organic as well as inorganic chemicals.

The company had recorded 66.76% increase in consolidated net profit to Rs 17.11 crore on a 34.04% rise in revenue to Rs 250.29 crore in Q1 FY27 as compared with Q1 FY27.

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