Neogen Chemicals QIP: ₹600 Crore Issue Oversubscribed 6.5 Times
- 22nd September 2026
- 12:00 PM
- 3 min read
Summary
Neogen Chemicals raised around ₹600 crore through its first qualified institutional placement (QIP), with the issue oversubscribed 6.5 times. Shares were allotted at ₹2,255 apiece, above the floor price of ₹2,189.73. The stock traded higher after the announcement. The company plans to use the proceeds to repay borrowings and fund working capital.Mumbai | 22 September 2026
Neogen Chemicals Ltd raised around ₹600 crore through its first-ever qualified institutional placement (QIP) on Tuesday, 22 September 2026, after the issue was oversubscribed 6.5 times by domestic and global institutional investors.
What Is Neogen Chemicals’ QIP Issue Price And Demand?
Neogen Chemicals allotted 26.6 lakh shares at ₹2,255 apiece, above the floor price of ₹2,189.73 per share. The issue received bids for more than 6.5 times the shares on offer.
Demand came from both domestic and global institutional investors, including existing as well as new participants. Key investors in the issue included ICICI Prudential Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund, SBI Life Insurance, White Oak Capital Mutual Fund, Axis Mutual Fund and the Abu Dhabi Investment Authority. The issue also saw wider participation from mutual funds, alternative investment funds, non-banking financial companies, insurers and foreign portfolio investors.
How Did Neogen Chemicals Shares React?
Neogen Chemicals shares traded 0.98% higher at ₹2,383 apiece as of 9:50 am on Tuesday, 22 September 2026, against a previous close of ₹2,359.80.
What Will Neogen Chemicals Do With The QIP Proceeds?
Neogen Chemicals plans to use the proceeds from the fundraise for the repayment or pre-payment of borrowings and to meet its long-term working capital requirements. A portion of the funds will also go toward general corporate purposes, giving the company additional capital to support its balance sheet.
What Does Neogen Chemicals Do?
Incorporated in 1991, Neogen Chemicals is a Navi Mumbai based manufacturer of bromine-based and lithium-based specialty chemicals, producing both organic and inorganic chemical compounds. Its products serve pharmaceutical intermediates, agrochemical intermediates, engineering fluids, electronic chemicals, polymer additives, water treatment chemicals, construction chemicals, and flavours and fragrances.
The company’s manufacturing units are in Navi Mumbai, Maharashtra and Karakhadi, Gujarat, with new facilities planned at Vadodara and Dahej. Neogen Chemicals markets its products in India, Europe, Japan and the United States.
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