Shares of Neogen Chemicals Ltd. are in focus on Thursday, September 17, after the company said it has completed the fund raise of nearly ₹600 crore via its qualified institutional placement . The company, in an exchange filing on Wednesday, said it held a meeting and approved the issue and allotment of 26.6 lakh equity shares to eligible qualified institutional buyers at the issue price of ₹2,255 per equity share.
This is higher than the set floor price of ₹2,189.73. Post the allotment of equity shares under the QIP, the paid-up equity share capital of Neogen Chemicals is now increased to ₹30.04 crore comprising 3 crore equity shares of ₹10 each from the previous ₹27.38 crore consisting of 2.73 crore equity shares of ₹10 each.
The QIP issue had opened on September 10 and closed on September 16. Here's a list of those who have been allotted over 5% of the equity shares offered in the QIP:Fund House% Of QIPICICI Prudential MF 13.33Invesco MF 13.33Mirae Asset MF 13.33SBI Life Insurance13.33White Oak Capital 8Axis MF 6.67Abu Dhabi Investment Authority5.33Neogen Chemicals' board had approved the fund raise on July 24 following which shareholder approval via a special resolution was passed on August 21.
Shares of Neogen Chemicals ended the previous session 0.4% lower at ₹2,302 apiece. The stock is up 1.4% in the past month and has surged 95.8% this year, so far.