Corporate Governance31 Oct 2026, 08:30 pm
Neogen Chemicals: No Deviation in QIP Fund Utilization for Q2 FY27
AI Summary
Neogen Chemicals Ltd has filed a Statement of Deviation and Variation regarding the utilization of funds raised through Qualified Institutional Placement (QIP) for the quarter ended September 30, 2026. The company confirms that there has been no deviation or variation in the utilization of these funds. The statement has been reviewed by the Audit Committee. The total gross proceeds from the QIP were ₹600 crore, with ₹18.52 crore utilized towards issue-related expenses during the quarter.
Key Highlights
- No deviation or variation in QIP fund utilization reported.
- Audit Committee reviewed the utilization statement.
- ₹600 crore raised via QIP.
- ₹18.52 crore utilized for issue expenses in Q2 FY27.
Price Impact
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