Corporate Governance24 Jul 2026, 08:10 pm
Neogen Chemicals Reports No Deviation in Preferential Issue Fund Utilization
AI Summary
Neogen Chemicals Limited has filed a revised statement of deviation/variation for funds raised through a preferential issue. For the quarter ended June 30, 2026, the company confirms no deviation or variation in the utilization of the ₹161 crore raised. The funds were allocated to investment in wholly-owned subsidiaries (₹100 crore), working capital requirements (₹21 crore), and general corporate purposes (₹40 crore). The utilization has been reviewed by the Audit Committee and monitored by CRISIL Ratings Limited, both confirming no issues.
Key Highlights
- No deviation reported in the utilization of ₹161 crore from preferential issue.
- Funds allocated to subsidiaries, working capital, and general corporate purposes.
- Audit Committee and CRISIL Ratings have reviewed and approved the utilization.
- Confirmation filed as per Regulation 32 of Listing Regulations.
Price Impact
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