Shares of Neogen Chemicals Limited surged during Tuesday’s intraday trading session, a day after the specialty chemical stock raised nearly ₹600 crore crore fund via its first-ever Qualified Institutional Placement (QIP). The issue was oversubscribed by more than 6.5x.
The specialty bromine chemicals manufacturer received strong participation from a diverse mix of renowned domestic and global institutional investors. The company had approved the fundraise on July 24, while shareholders subsequently gave their approval through a special resolution passed in August.
Neogen Chemicals QIP
Under the Neogen Chemicals QIP, the company had allotted 26,60,753 equity shares of face value of ₹10 each at an issue price of ₹2,255 per equity share. The QIP issue price was fixed above the floor price of ₹2,189.73 per equity share. The paid-up equity share capital also expanded from ₹27.38 crore to approximately ₹30.04 crore.
Neogen Chemicals QIP oversubscribed
The issue was oversubscribed by more than 6.5x and raised approximately ₹600 crore. As per the company’s BSE filing, the QIP attracted strong participation from a diverse mix of renowned domestic and global institutional investors, including leading mutual funds, AIF, NBFC, insurance companies, and foreign portfolio investors.
Neogen Chemicals QIP also attracted strong participation from institutional investors like ICICI Prudential Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund, SBI Life Insurance, White Oak Capital Mutual Fund, Axis Mutual Fund and Abu Dhabi Investment Authority.
Neogen Chemicals QIP objective
The fund raised via QIP would help the firm in cutting its outstanding indebtedness, debt servicing costs and improve the debt-to-equity ratio. It would also provide financial flexibility to fund incremental business requirements and growth opportunities. “This successful capital raise has enabled us to raise more equity in a single transaction than across all seven years since our listing. It is a testament to the market’s faith in our strategy,” stated Dr. Harin Kanani, Managing Director of Neogen Chemicals Limited.
Neogen Chemicals share price trend
The stock was trading 0.18% higher at ₹2362.7 per share on BSE with a market capitalisation of ₹7,098.12 crore at 9:52 am on BSE on Tuesday, September 22. The stock had touched an intraday high of ₹2,396.30 per share and an intraday low of ₹2,396.30 per share during the trading session.
Neogen Chemicals stock history
The stock surged to 52-week high of ₹2,498.50 per share on September 18, 2026. It dipped to its 52-week low of ₹978 per share on December 9, 2025. Its share price value has surged 102% in 2026 so far. The specialty chemical stock has delivered close to 78% return in six months, 52% return in one year and around 39.5% return in three years.
