Neogen Chemicals Limited shares opened lower during Friday’s intraday trading session, a day after the specialty chemicals company set the floor price for its Qualified Institutions Placement (QIP) at ₹2,189.73 per equity share.
The company’s floor price has been calculated using the pricing formula prescribed under Regulation 176(1) of the Securities and Exchange Board of India's (SEBI) Issue of Capital and Disclosure Requirements Regulations.
Neogen Chemicals QIP floor price has been fixed at ₹2,189.73 per equity share. It is calculated based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations.
The company’s fund-raising committee has fixed the ‘Relevant Date’ for the purpose of the QIP as September 10, 2026. The floor price is “based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is ₹2,189.73 per Equity Share.” The company may offer a discount of not more than 5% on the floor price.
The fundraise has come days after its approval from the company’s board on July 24 and shareholder approval through a special resolution which was passed on August 21.