Neogen Chemicals Ltd. Approves Issue of 1000000 Equity Shares on Preferential Basis

Neogen Chemicals Ltd. announced the outcome of their Board meeting, which approved the issuance of 1000000 equity shares on a preferential basis. The shares, with a face value of Rs. 10 each, will be issued at a price of Rs. 1,610 per share, including a premium of Rs. 1,600 per share. This amounts to a total of Rs. 161,00,00,000. The decision is subject to the approval of the Members of the Company and various statutory and regulatory approvals, including SEBI approval. The company also announced the convening of an Extra Ordinary General Meeting (EGM) of the Members of the Company for the approval of the Preferential Issue.