Neogen chemicals conducted an extraordinary general meeting on March 29, 2026, to deliberate on the preferential issuance of equity shares to its promoter group members. The meeting concluded with overwhelming shareholder support, as the resolution received 99.99% approval from voting members.

Meeting Structure and Participation

The EGM commenced at 11:30 a.m. IST and concluded efficiently at 11:56 a.m. IST under the chairmanship of Mr. Anurag Surana, Chairman and Non-Executive Director. Company Secretary Unnati Kanani welcomed shareholders, directors, and auditors who participated through the electronic platform provided by MUFG Intime India Private Limited (formerly Link Intime India Private Limited).

Voting Results and Overwhelming Approval

The resolution for preferential equity share issuance to promoter group members secured exceptional shareholder support. CS Devendra V. Deshpande from DVD & Associates served as the appointed scrutinizer for the voting process.

Category-wise Voting Breakdown

The voting pattern demonstrated strong support across all shareholder categories:

E-voting Process and Timeline

The company facilitated comprehensive voting arrangements through multiple channels. Remote e-voting was available from Thursday, March 26, 2026, at 9:00 a.m. IST through Saturday, March 28, 2026, at 5:00 p.m. IST. Additionally, e-voting during the EGM was provided for members who had not participated in remote voting.

Regulatory Compliance and Documentation

On March 30, 2026, the company submitted the consolidated voting results and scrutinizer's report to BSE Limited and National Stock Exchange of India Limited under Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting proceedings were conducted in full compliance with regulatory requirements, with the notice dated March 7, 2026, and corrigendum dated March 17, 2026, distributed to all registered shareholders.

Resolution Details and Business Agenda

The meeting focused on a single special resolution regarding the issuance of equity shares on preferential basis to promoter group members. The resolution was deemed passed on March 29, 2026, with the requisite majority secured through the voting process.

Neogen chemicals has published newspaper advertisements regarding the corrigendum to its Extraordinary General Meeting (EGM) notice, following the comprehensive clarifications issued in response to stock exchange queries about its proposed Rs. 161.00 crore preferential issue.

Regulatory Compliance and Publication Requirements

Pursuant to Regulation 30 and 47 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, the company published newspaper clippings in Financial Express (English Daily) and Mumbai Lakshadeep (Marathi Daily) on March 18, 2026. The advertisements provide corrigendum details for the EGM scheduled on March 29, 2026 at 11:30 a.m. (IST) through Video Conference/Other Audio-Visual Means (OAVM).

The newspaper clippings have been uploaded to the company's website at https://neogenchem.com/announcements/ in the issue of securities tab, ensuring comprehensive accessibility for all stakeholders.

Enhanced Fund Utilization Details

The corrigendum provides comprehensive information on the utilization of issue proceeds totaling Rs. 161.00 crore across three key areas with specific deployment timelines:

The company has indicated that there may be variations not exceeding +/- 10% in the estimated amounts for each object. Pending utilization, proceeds will be invested in money market instruments or scheduled commercial bank deposits as permitted under applicable laws.

Neogen Ionics Limited - Battery Materials Strategy

The largest portion of funds, Rs. 100.00 crore, will be invested in Neogen Ionics Limited (NIL), a wholly-owned subsidiary incorporated on March 29, 2023. NIL focuses on battery chemicals business, particularly lithium-ion battery materials including electrolytes and lithium salts.

The subsidiary has acquired approximately 65 acres of land in Pakhajan, Dahej PCPIR, Gujarat, in December 2023 for establishing a battery materials facility. The comprehensive project includes:

• 30,000 MTA electrolyte capacity with MUIS Technology License
• 3,000 MTA specialty lithium electrolyte salts and additives at Pakhajan
• Additional 2,000 MTA electrolyte capacity at Dahej SEZ
• 2,500 MTA specialty lithium electrolyte salts/additives using indigenous technology

Project Economics and Investment Structure

Promoter Group Changes and Allottee Details

The corrigendum provides detailed information about Cadamba Solutions Private Limited, incorporated on December 15, 2025, which belongs to the promoter group and is owned by promoter Dr. Harin Kanani. Cadamba is proposed to be allotted 10,00,000 equity shares at Rs. 1,610.00 per share, representing a premium over the floor price of Rs. 1,375.82 per share.

The document details inter-se transfers of shares executed on December 31, 2025, by promoter and promoter group members to their respective family trusts pursuant to SEBI exemption order WTM/KCV/CFD/17/2025-26:

Documentation and Compliance Framework

The company has confirmed that a certificate from DVD & Associates, Company Secretaries, certifying compliance with SEBI ICDR Regulations will be available for member inspection during the meeting and on the company website. The corrigendum emphasizes that all fund deployment will be completed within 90 days of equity share allotment.

Due to the inter-se transfers during the 90 trading days preceding the relevant date, Cadamba has made an application to SEBI pursuant to regulation 300 of SEBI ICDR regulations seeking exemption from strict application of regulation 159. The current and proposed status of Cadamba remains as promoter group member post the preferential issue.