Neogen Chemicals Subsidiary Sells Undertaking for ₹245 Crore

Neogen Ionics Limited (NIL), a wholly owned subsidiary of Neogen Chemicals Limited, has approved the execution of a Business Transfer Agreement (BTA) with Neogen Morita New Materials Limited (NML), a step-down wholly owned subsidiary. The agreement involves the sale/transfer of an undertaking/assets by NIL to NML on a going concern basis for a lumpsum consideration of ₹245 Crore. The transaction, which is considered a related party transaction but done at arm's length, is subject to shareholder and regulatory approvals. The undertaking contributed Nil revenue but 19.05% of the consolidated net worth of Neogen Chemicals as of March 31, 2026. Completion is expected by March 31, 2027.