Neogen Chemicals Submits IPO Papers with the Market Regulator SEBI

Neogen Chemicals has submitted draft papers with the capital markets regulator the Securities and Exchange Board of India to launch an initial public offering (IPO).

This public offer comprises a fresh issue of shares around INR 70 crore & offer for sale up to 29 lacs shares by the promoters of a company as per the draft papers submitted to Sebi. The proceeds will be utilized for the repayment of certain borrowings, long-term working capital & general corporate purposes. The company expects to get the benefits and enhance the visibility of a brand as per the draft papers.

The lead managers of this initial public offering are Inga Advisors & Batlivala and Karani Securities India. The equity shares would be listed on NSE and BSE.

About Neogen Chemicals:

Neogen Chemicals is a prominent manufacturer of lithium and bromine-based specialty chemicals and has been in this industry for more than 27 years. The founder of the company is Mr. H T Kanani – a chemical engineer from IIT Mumbai and also well-known as “Bromine Man of India”.

Image Credit: Neogen Chemicals

Posted in: IPO

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