Board of Neogen Chemicals to Consider Fund Raising
December 04, 2021
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The meeting of the Board of Directors of Neogen Chemicals Limited (NSEI:NEOGEN) is scheduled to be held on Wednesday, December 8, 2021, inter alia, to consider, evaluate and approve the proposal for raising of funds by way of issue of any instrument or security(ies) including equity shares, fully/partly convertible/nonconvertible instruments including debenture warrants, and warrants entitling the warrant holder({s) to apply for equity shares or any other equity based instruments or eligible securities or any combination thereof in one or more tranche including by way of a public issue, qualified institution placements, preferential issue or a private placement in accordance with the applicable provision of the Companies Act 2013 and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulations, 2018, (each as amended), or through any other permissible mode or any combination thereof of any of the above to the eligible investors, in such manner, and on such terms and conditions as may be deemed appropriate by the Board in its absolute discretion, subject to the receipt of necessary approvals, including the approval of the members of the Company at a general meeting or through postal ballot and such other regulatory /statutory approvals as may be required.
Neogen Chemicals Limited is an India-based company, which is engaged in the business of manufacturing of specialty chemicals which are used in pharmaceutical, engineering and agro-chemical industries. The Company manufactures specialty bromine and lithium-based chemical compounds, with a portfolio of organic and inorganic chemicals. Its business segments include Organic Chemicals and Inorganic Chemicals. The organic chemicals segment is involved in manufacturing organic bromine-based compounds, advanced intermediates, specialty compounds and Grignard reagents. The inorganic chemicals segment includes specialty, inorganic lithium based chemical products. The Company focusses on producing a wide range of specialty chemicals, including organic and inorganic chemicals. These chemicals are utilized in various industries, such as pharmaceuticals, agrochemicals, engineering, electronics, polymers, water treatment, construction, aroma chemicals, flavors and fragrances, and specialty polymers.