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.

Neogen Chemicals Limited's Board of Directors has approved a significant preferential issue of equity shares worth ₹161.00 crores following their meeting on March 7, 2026. The board meeting, which commenced at 1:15 p.m. and concluded at 1:45 p.m., resulted in the approval of issuing 10.00 lakh equity shares to raise funds for the company's growth initiatives.

Preferential Issue Details

The board has approved the issuance of 10.00 lakh equity shares with a face value of ₹10.00 each at a price of ₹1,610.00 per share, including a premium of ₹1,600.00 per share. The total fund raising amounts to ₹161.00 crores through this preferential issue.

The issue price of ₹1,610.00 per share is 17.02% above the floor price of ₹1,375.82, calculated in accordance with Regulation 164 of the SEBI ICDR Regulations. The relevant date for determining the floor price was February 27, 2026, being 30 days prior to the scheduled EGM.

Allottee and Shareholding Impact

Cadamba Solutions Private Limited, belonging to the promoter group category, will be the sole allottee for this preferential issue. Currently holding zero shares in the company, Cadamba Solutions will acquire a 3.65% stake post-allotment.

EGM and Record Date Announcement

The company has scheduled an Extraordinary General Meeting (EGM) for Sunday, March 29, 2026, at 11:30 a.m. through video conferencing and other audio-visual means. The EGM will seek shareholder approval for the preferential issue and related matters.

The record date for determining eligibility of members for remote e-voting and attending the EGM has been set as Friday, March 20, 2026. The Register of Members and Share Transfer Register will remain closed from Saturday, March 21, 2026, to Sunday, March 29, 2026 (both days inclusive).

Lock-in Requirements and Regulatory Compliance

The equity shares to be allotted to Cadamba Solutions Private Limited will be subject to lock-in requirements as per SEBI ICDR Regulations. Shares belonging to the promoter group category will be locked-in for 18 months from the date of trading approval, with specific provisions for shares exceeding 20% of total capital being locked-in for six months.

The preferential issue is subject to approval from company members and statutory and regulatory approvals, including SEBI approval. The company has also sought exemption from strict application of certain SEBI ICDR regulations due to inter se transfers by promoter group members on December 31, 2025.

The company has fulfilled its disclosure obligations by notifying BSE Limited and National Stock Exchange of India Limited about the board meeting outcome. The information is also available on the company's website under the announcements section in the issue of securities tab.