Neogen Chemicals Limited has successfully completed its preferential allotment of 10,00,000 equity shares to Cadamba Solutions Private Limited, raising ₹161 crore. The Fund Raising Committee of the Board of Directors approved the allotment on April 18, 2026, following regulatory approvals from both BSE Limited and National Stock Exchange of India Limited received on April 17, 2026.

Allotment Details and Pricing

The equity shares, with a face value of ₹10 each, were allotted at ₹1,610 per share, including a premium of ₹1,600 per share. The issue price represents a 17.02% premium above the floor price of ₹1,375.82, calculated in accordance with Regulation 164 of the SEBI ICDR Regulations.

Shareholding Impact

Following the allotment, the company's issued, subscribed, and paid-up equity share capital increased from ₹26,38,16,740 to ₹27,38,16,740. Cadamba Solutions Private Limited, categorized as a Promoter Group Member, now holds 10,00,000 equity shares representing 3.65% of the company's total share capital.

Regulatory Compliance and Lock-in

The allotted equity shares will be listed on both BSE Limited and National Stock Exchange of India Limited, ranking pari passu with existing equity shares in all respects, including dividend payment and voting rights. The shares are subject to lock-in requirements under Regulation 167 of the SEBI ICDR Regulations, with equity shares allotted to the promoter group category locked in for 18 months from the date of trading approval.

The preferential issue was conducted pursuant to the Special Resolution passed by members at the Extraordinary General Meeting held on March 29, 2026. The company confirmed that there has been no cancellation or termination of the proposal for issuance of securities, ensuring the successful completion of this capital raising initiative.

Axis Trustee Services Limited has disclosed receiving 20,19,167 equity shares of Neogen Chemicals as pledged securities, representing 7.65% of the company's paid-up capital. The disclosure was made under Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, in their capacity as debenture trustee.

Regulatory Disclosure and Trustee Role

Axis Trustee Services Limited submitted the mandatory disclosure to both BSE Limited and National Stock Exchange of India Limited on April 14, 2025. The trustee clarified that they hold no beneficial interest in the pledged shares and received them solely in their capacity as debenture trustee pursuant to SEBI regulations.

Share Pledge Transaction Details

The pledge creation involves Dr. Harin Haridas Kanani, a promoter of Neogen Chemicals, who pledged the shares to facilitate borrowing and fund raising by Cadamba Solutions Private Limited, a promoter group member. Prior to this transaction, Axis Trustee Services Limited held no shares or encumbrances in Neogen Chemicals.

Promoter Holdings Structure

Dr. Harin Haridas Kanani maintains significant holdings in Neogen Chemicals with 33,38,250 shares representing 12.65% of total share capital. The promoter group structure includes multiple family trusts and individual holdings across the Kanani family members.

Compliance and Market Information

The disclosure demonstrates adherence to SEBI's transparency requirements for substantial shareholding changes and encumbrance creation. Neogen Chemicals shares are listed on both major Indian stock exchanges, with the company maintaining a total equity share capital of 2,63,81,674 shares as per the latest shareholding pattern for the quarter ended December 2025. The transaction reflects the interconnected financial arrangements within promoter group structures while ensuring regulatory compliance through proper trustee mechanisms.