Neogen Chemicals to Raise ₹200 Crore via Non-Convertible Debentures

15 Jul 2025 , 12:12 PM

Neogen Chemicals said on Saturday that its board has cleared a proposal to raise up to ₹200 crore through non-convertible debentures. The funds will be raised via private placement, with the debentures carrying a tenure of up to 36 months. Interest will be paid out monthly.

These NCDs will be secured, rated, listed, and denominated in Indian rupees. The company added that the securities will be backed through hypothecation and mortgage, creating a subservient charge on assets. Once issued, they will be listed on the BSE.

Separately, Neogen disclosed that BSE Limited has imposed a fine of ₹3.61 lakh, including GST, for a compliance lapse. The penalty relates to a violation of Regulation 17(1A) under SEBI’s Listing Obligations.

According to the disclosure, the company reappointed a Non-Executive Independent Director who is over the age of 75, but failed to explicitly reference the relevant regulation in its resolution and explanatory notes. This oversight triggered the fine.

Neogen manufactures specialty chemicals used across sectors like pharmaceuticals and agrochemicals. The company operates four plants located in Maharashtra, Gujarat, and Hyderabad.

Neogen Chemicals shares have gained 1.03% trading at ₹1,616 on July 15, 2025. Neogen Chemicals share have dipped 1.53% in the last year, down 26% in the year-to-date, and 1.50% in the previous month.

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