Neogen Chemicals to Hold EGM for Preferential Issue of Equity Shares
Neogen Chemicals Limited will hold an EGM on March 29, 2026, to approve the preferential issue of 10,00,000 equity shares to Cadamba Solutions Private Limited at ₹1,610 per share. The issue aims to raise ₹161 crore. Remote e-voting is open from March 26 to March 28, 2026.
The preferential issue of equity shares is a significant capital raising event, which can substantially impact the company's financial structure, funding for growth initiatives, and potentially its shareholding pattern. This is a material event for investors.
The announcement details a significant preferential share issuance which is expected to raise substantial capital for the company, indicating a positive development for growth and expansion.
Neogen Chemicals Limited has announced the convening of an Extra Ordinary General Meeting (EGM) scheduled for Sunday, March 29, 2026, at 11:30 a.m. IST. The meeting will be conducted through video conferencing (VC) / other audio-visual means (OAVM) to discuss and approve special business.
The primary agenda for the EGM is the preferential issue of 10,00,000 Equity Shares of face value ₹10 each at an issue price of ₹1,610 per share (including a premium of ₹1,600 per share). This issuance, to promoter group member Cadamba Solutions Private Limited, is expected to raise ₹1,61,00,00,000 (₹161 crore). The relevant date for determining the floor price is February 27, 2026. The EGM will also cover the terms and conditions of the preferential issue, including a lock-in period for the shares and the utilization of the funds raised.
Key dates for members include Friday, March 20, 2026, as the cut-off date for determining voting eligibility. The register of members and share transfer books will be closed from Saturday, March 21, 2026, to Sunday, March 29, 2026, inclusive. Remote e-voting will commence on Thursday, March 26, 2026, at 9:00 a.m. IST and conclude on Saturday, March 28, 2026, at 5:00 p.m. IST. E-voting will also be available during the EGM on March 29, 2026.
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Neogen Chemicals Limited filed this with the NSE as a statutory disclosure, categorised under egm. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Neogen Chemicals Limited. Read the original for the full detail.