Key Quantitative Figures
- Total amount raised through preferential issue: ₹161 crore
- Date of fund raising: April 18, 2026
- Investment in wholly owned subsidiaries: ₹100 crore
- Working capital requirements: ₹21 crore
- General corporate purposes: ₹40 crore
- Entire ₹161 crore fully utilized as of June 30, 2026
Dates of Action
- Preferential issue allotment date: April 18, 2026
- Quarter ended: June 30, 2026
- Audit Committee meeting: July 24, 2026
- Monitoring Agency Report date: July 24, 2026
- Statutory Auditor Certificate date: July 23, 2026
Parties Involved
- Listed Entity: Neogen Chemicals Limited (Scrip Code: 542665, NSE Symbol: NEOGEN, ISIN: INE136S01016)
- Monitoring Agency: CRISIL Ratings Limited
- Statutory Auditors: M/s Chandabhoy & Jassoobhoy, Chartered Accountants (Firm Registration Number: 101647W)
- Subsidiaries: Neogen Ionics Limited, Buli Chemicals India Private Limited, Neogen Morita New Materials Limited
- Lender: State Bank of India
Fund Utilization Details
Original Objects and Utilization:
1. Investment in wholly owned subsidiaries (₹100 crore):
- Funds utilized for capital expenditure at Pakhanjan project through Neogen Ionics Limited
- Fund flow: NCL → CCDs in NIL → Rights issue of NML → Advance payment to NIL → Equipment purchase/civil work
- Business Transfer Agreement between NIL and NML for salt business under process
2. Working capital requirements (₹21 crore):
- Utilized towards adjustment of cash credit facility with State Bank of India
3. General corporate purposes (₹40 crore):
- Amount utilized does not exceed 25% of gross proceeds
- Utilized towards working capital requirements
Monitoring Agency Findings
CRISIL Ratings Limited confirmed:
- No deviation from objects disclosed in offer document
- No change in means of finance for disclosed objects
- No major deviation observed over earlier monitoring reports
- No favorable or unfavorable events affecting viability of objects
- No other information materially affecting investor decision-making
- All proceeds fully utilized, monitoring account stands at NIL
Audit Committee Review
The Audit Committee reviewed the Statement of Deviation/Variation at its meeting held on July 24, 2026 and had no comments.
Statutory Auditor Certification
M/s Chandabhoy & Jassoobhoy provided certificate dated July 23, 2026 confirming proper utilization of funds.
Document Dissemination
The intimation is being uploaded on the Company's website and stock exchange websites (NSE and BSE) for investor information.
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