Neogen Chemicals raises INR 200 crore via NCDs with a competitive 10.50% coupon rate

Neogen Chemicals Limited, a leading manufacturer of Bromine-based and Lithium-based specialty chemicals, has successfully raised INR 200 crore through the private placement of fully paid, secured, rated, listed, redeemable, rupee denominated, and non-cumulative, non-convertible debentures (NCDs). The NCDs, rated CRISIL A/ Outlook Negative, were issued at a competitive 10.50% coupon rate, taking advantage of the falling interest rate environment. The funds will provide financial flexibility to execute the ongoing growth projects and supply the liquidity to expedite the rebuilding of the Organic Chemicals plant in Dahej SEZ until insurance money is fully received. The issue was fully subscribed by prominent institutional investors.