What happened
Neogen Chemicals, a Thane-based specialty chemicals company known for its bromine and lithium chemistry, has opened a qualified institutions placement (QIP) to raise up to Rs 600 crore.
In a regulatory filing on September 10, 2026, the company's Fund-Raising Committee approved the preliminary placement document and set the QIP floor price at Rs 2,189.73 per equity share, calculated under Regulation 176(1) of the SEBI ICDR Regulations. September 10, 2026 is the 'Relevant Date' for the issue, and the QIP opened for eligible qualified institutional buyers the same day.
Neogen may, at its discretion, offer a discount of up to 5% on the floor price, with the final issue price to be decided in consultation with the lead managers. The placement is being made under Chapter VI of the SEBI ICDR Regulations and Section 42 of the Companies Act, 2013, and the shares carry a face value of Rs 10 each.
The fundraise follows board approval on July 24, 2026 and shareholder approval via a special resolution passed on August 21, 2026. The preliminary placement document was filed with the BSE and the National Stock Exchange of India on September 10 and is available on the company's website under the 'Issue of Securities' section.
The proceeds are earmarked for the company's battery materials projects — Dahej Phase 1 and Pakhajan Phase 2 — and for reducing debt, so the raise ties directly to Neogen's push into lithium-based battery chemicals. The QIP also comes after a strong run in the stock: it had risen 5.89% to close at Rs 2,388 on the NSE on September 10, the day the issue opened, but fell about 3.5–4.6% on BSE on Sept
The floor price is Rs 2,189.73 per share — the lowest price at which Neogen can issue QIP shares — but it may offer up to a 5% discount, and the final price will only be known once the committee fixes it in consultation with the lead managers after the book closes.
What is confirmed
Facts corroborated by the sources listed below.
Why it matters for me
Neogen Chemicals, a Thane-based specialty chemicals company known for its bromine and lithium chemistry, has opened a qualified institutions placement (QIP) to raise up to Rs 600 crore.
Just Worth Knowing
General Public
₹600 cr Neogen QIP: Floor price, key dates, discount option, approvals and other details