For Quick Alerts
For Daily Alerts

Neogen Chemicals IPO Subscribed 139% So Far On Day 2


The initial public offer (IPO) of Neogen Chemicals has been subscribed by 1.39 times so far on the second day of bidding. The Rs 132-crore IPO opened on 24 April and will close on Friday.

It received bids for 60,21,405 shares against the total issue size of 43,29,038 shares, as per data available on NSE data till 3:30 pm on Thursday. On Wednesday, the offer was subscribed by 27 percent.

Neogen Chemicals IPO Subscribed 139% So Far On Day 2

The Neogen Chemicals IPO comprises a fresh issue of up to Rs 70 crore and an offer of sale (OFS) of up to 16,99,600 and 12,00,400 equity shares by promoters Haridas Thakarshi Kanani and Beena Haridas Kanani respectively.

The issue price band was fixed at a range of Rs 212-215 a share. The minimum lot size for bids was 65 equity shares and in multiples of 65 equity shares thereafter.

The promoter group currently holds 95.79 percent stake in the company and their share post-IPO will fall to 70 percent.

Inga Advisors Private Limited and Batlivala & Karani Securities India Private Limited are the book running lead managers to the offer. Equity shares of the company are proposed to be listed on BSE and NSE.

Neogen Chemicals is a 27-year-old manufacturer of bromine-based, and lithium-based, specialty chemicals. Its client base include pharmaceutical, agrochemical and other specialty chemical companies in India, Europe and Japan.

Read more about: ipo
Story first published: Thursday, April 25, 2019, 18:05 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more