Neogen Chemicals raises Rs225cr via equity shares allotment; SBI Mutual Fund, Axis Mutual Fund among other investors; Stock gains over 1%

7 Jan 2022 , 11:17 AM

Neogen Chemicals Limited board has approved the allotment of 16,04,710 equity shares of the face value of Rs10 each at a price of Rs1,402.12 per equity share including a premium of Rs1,392.12 per equity share on a preferential basis. 

The transaction aggregated to nearly Rs225cr. The allottees were from major fund houses. 

The allottees were – SBI Mutual Fund, Axis Mutual Fund, Plutus Wealth Management LLP, White Oak India Equity Fund IV and White Oak India Select Equity Fund

At around 11.20 am, Neogen Chemicals Ltd was trading at Rs1,862.25 per piece up by Rs24.75 or 1.35% from its previous closing of Rs1,837.50 per piece on the BSE.

The scrip opened at Rs1,860 and has touched a high and low of Rs1,890 and Rs1,851.50 respectively.