Neogen Chemicals Ltd

Capital / Securities

• NML approves preferential issue of 7,20,000 equity shares to MIL at Rs 1,066.66 per share.
• Aggregate amount Rs 76.8 crore; subject to Members' and regulatory approvals.
• Approval via NML Extraordinary General Meeting held Sep 26, 2026.
• Issuance under JV agreement dated Aug 31, 2025; subject to applicable laws.

Action & Ratings

• Rating Agency: CRISIL Ratings Limited revises outlook to Stable for Neogen Chemicals Limited long-term rating A-/Stable.
• Rating Agency: CRISIL Ratings Limited revises outlook for Neogen Ionics Limited long-term rating BBB+/Stable (from Negative).
• Short-term rating for Neogen Chemicals: A2+ reaffirmed; NCDs: A-/Stable (outlook revised).
• Bank facilities: NCL ₹680 crore rated A-/Stable; NCL NCDs rated A-/Stable.
• Neogen Ionics: Long-term bank facilities rated BBB+/Stable; outlook revised from Negative.

Rationale

• QIP of ₹600 crore strengthened net worth and capital structure.
• Proceeds to debt reduction and working capital enhancement.
• Operations stabilising after fire incident; capex supports medium-term growth.

Neogen Chemicals Ltd — Trading Window closed from October 1, 2026 until end of 48 hours after declaration of Un-Audited (standalone and consolidated) financial results for the quarter and half year ended September 30, 2026.

Meeting Details

• Date/time: Monday, September 28, 2026, 4:00 p.m. IST.
• Type and mode: Group meeting, virtual.
• Event/organiser: Arihant Capital – Bharat Connect Conference: Rising Stars.

Participants

• Key participants: Management (Neogen Chemicals Limited).
• Company Secretary & Compliance Officer to attend.

Purpose

• Purpose: discussion of business overview, financial performance and outlook.

Additional Notes

• Presentation will be available on the company's investor meet presentation page.

QIP highlights and capital allocation

• Completed first-ever QIP raising around INR 600 crore; oversubscribed 6.5x.
• 26,60,753 equity shares allotted at INR 2,255 per share.
• Paid-up equity share capital increased to INR 30.04 crore.
• Proceeds to repay borrowings and fund working capital and general corporate purposes.
• Lead managers were Inga Ventures, IIFL Capital Services, Kotak Mahindra Capital.
• Legal counsel: Trilegal.
• Aim to reduce indebtedness and improve debt-to-equity ratio.

Meeting Details

• Date and time: Tuesday, September 22, 2026, 2:00 p.m. IST.
• Type and mode: Group meeting, physical at Trident BKC, Mumbai.
• Organizer: Morgan Stanley’s Energy Security and Powering AI Field Trip.
• Participants: Neogen Chemicals management.
• Purpose: Discuss business overview, financial performance and outlook.
• Presentation available on company website.

Capital / Securities

• Fund-Raising Committee approved QIP allotment of 26,60,753 equity shares to QIBs.
• Issue price ₹2,255 per share; aggregate ₹5,99,99,98,015.
• Paid-up capital increased from ₹27,38,16,740 to ₹30,04,24,270.
• Shares will be listed on BSE and NSE, ranking pari passu.

QIP details

• QIP for 2,660,753 equity shares at ₹2,255 each (₹2,245 premium).
• Total raise approx ₹600 crore.
• Opening date 10 Sept 2026; closing date 16 Sept 2026.
• Board approval on 24 July 2026; shareholders' special approval on 21 August 2026.
• Fund-Raising Committee approved issue closure, price, and placement document on Sept 16, 2026.
• Placement document dated Sept 16, 2026; allocation note to QIBs to be sent.
• Allocation to eligible QIBs to be communicated via Allocation Note.

QIP details

• Purpose: QIP to raise funds via equity shares to qualified institutional buyers.
• Securities: Equity shares with face value ₹10 each.
• Floor price: ₹2,189.73 per share; discount up to 5% allowed.
• Approvals: Board on July 24, 2026; shareholders on Aug 21, 2026.
• Committee approval: September 10, 2026.
• Relevant date: 10 September 2026.
• Preliminary placement document dated September 10, 2026; to be filed with BSE/NSE.
• Issue price will be determined by the company in consultation with lead managers.
• Floor price not less than the ICDR pricing formula.

Tax Notice Update

• Show-cause cum demand notice received from CGST/CE Belapur dated Sept 5, 2026.
• Consolidated tax demand of Rs 6,97,08,028 for FY 2022-23 (incl. interest/penalty).
• Notice cites GSTR-1 vs GSTR-3B mismatch and excess ITC on imports.
• Company will file a detailed reply and take appropriate actions as required.
• There is no material impact on operations except the amount mentioned.
• Annexure A provides the authority name and action details.
• Notice relates to Financial Year 2022-23.
• Filing uploaded on company website under 'Other Disclosure'.