27 May 2019 | 12:23 AM

News

IPO
Neogen Chemicals announces launch of initial public offering
Published on 04-22-2019
Neogen Chemicals Ltd. has announced public offering of 6155814 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 205.00 per share. The gross proceeds of the issue are expected to be Rs 13235.00 lakhs.


The company`s initial public offer (IPO) will open on 24 April 2019 and is expected to close on 26 April 2019 subject to customary closing conditions. The price band of the issue has been fixed at Rs 212.00-215.00 per share.


The IPO includes a fresh Issue of 6155814 Equity Shares of the Company at an price of Rs 215.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 65 shares with bids in multiples of 65.


Neogen Chemicals Ltd. anticipates using the proceeds of the issue for Prepayment or repayment of all or a portion of certain borrowings availed by the Company Early redemption of % FRCPS Long term working capital; and General corporate purposes.


as lead manager & is the registrar to the issue.