Neogen Chemicals files DRHP with SEBI for IPO

INGA Advisors Private Limited and Batlivala & Karani Securities India Private Limited are the book running lead managers.

Nov 07, 2018 01:11 IST India Infoline News Service

Initial Public Offer, IPO
Neogen Chemicals Limited (NCL), one of India’s leading manufacturers of bromine-based, and lithium-based, specialty chemicals have filed its DRHP with SEBI.

The Initial Public Offer (IPO) comprises of a fresh issue of aggregating up to Rs.70cr by the Company (Fresh Issue) and an offer for sale of up to 16,99,600 equity shares by Haridas Thakarshi Kanani (Selling Shareholder 1) and up to 1,200,400 equity shares by Beena Haridas Kanani (‘Selling Shareholder 2’, and along with Selling Shareholder 1 collectively referred to as the ‘Selling Shareholders’).

INGA Advisors Private Limited and Batlivala & Karani Securities India Private Limited are the book running lead managers.

The equity shares will be listed on BSE and NSE.

NCL is engaged in the manufacturing of specialty organic bromine-based chemical compounds (Bromine Compounds) and other specialty organic chemical compounds as well as specialty inorganic lithium-based chemicals compounds (Lithium Compounds and together with the Bromine Compounds the Products). NCL commenced business operations in 1991, at Mahape, Navi Mumbai manufacturing with a few Bromine Compounds and Lithium Compounds. Over the years they expanded their range of products and, presently, manufacture an extensive range of specialty chemicals which find application across various industries in India and globally. As on September 30, 2018, NCL have manufactured an aggregate of 187 products comprising 170 organic chemicals and 17 inorganic chemicals.

Related Story