Neogen Chemicals Limited announced a private placement to issue 1,442,358 Equity Shares at an issue price of INR 1754.07 (premium INR 1744.07) for the gross proceeds of INR 2,529,996,897 on October 5, 2023. The transaction will include participation from new investors SBI Large and Midcap Fund for 285,051 shares, SBI Contra Fund 222,340 shares, SBI Equity Savings Fund 62,711 shares, Quant Small Cap Fund 427,577 shares, TATA India Tax Saving Fund 199,536 shares, India Acorn Fund Limited 85,515 shares, Ashoka India Equity Investment Trust PLC 57,010 shares, Invesco India Small Cap Fund 57,010 shares and Alchemy Long term Ventures Fund 45,608 shares. The transaction has been approved by shareholders of the transaction and is subject to subject to the approval of the Members of the Company and other necessary approvals (including applicable statutory and regulatory approvals).

The transaction is subject to general shareholders which is to be held on October 28, 2023. The shares are restricted to a hold period of 6 months. Pre- preferential allotment holding SBI Large and Midcap Fund 650,000 shares for 2.61% stake, SBI Contra Fund 585,801 shares for 2.35% stake, SBI Equity Savings Fund 150,000 shares for 0.60% stake and Invesco India Small Cap Fund 118,930 shares for 0.48% stake.

Post preferential allotment holdings SBI Large and Midcap Fund 935,051 shares for 3.54% stake, SBI Contra Fund 808,141 shares for 3.06% stake, SBI Equity Savings Fund 212,711 shares for 0.81% stake, Quant Small Cap Fund 427,577 shares for 1.62% stake, TATA India Tax Saving Fund 199,536 shares for 0.76% stake, India Acorn Fund Limited 85,515 shares for 0.32% stake, Ashoka India Equity Investment Trust PLC 57,010 shares for 0.22% stake, Invesco India Small Cap Fund 175,940 shares for 0.67% stake and Alchemy Long term Ventures Fund 45,608 shares for 0.17% stake.