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Neogen Chemicals IPO is a book build issue of ₹132.35 crores. The issue is a combination of fresh issue of 0.33 crore shares aggregating to ₹70.00 crores and offer for sale of 0.29 crore shares aggregating to ₹62.35 crores.
Neogen Chemicals IPO bidding started from Apr 24, 2019 and ended on Apr 26, 2019. The allotment for Neogen Chemicals IPO was finalized on May 3, 2019. The shares got listed on BSE, NSE on May 8, 2019.
Neogen Chemicals IPO price band is set at ₹215.00 per share . The lot size for an application is 65. The minimum amount of investment required by an retail is ₹13,780 (65 shares). The lot size investment for sNII is 15 lots (975 shares), amounting to ₹2,09,625, and for bNII, it is 72 lots (4,680 shares), amounting to ₹10,06,200.
Batlivala & Karani Securities India Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Neogen Chemicals IPO RHP for detailed Information.
| IPO Date | April 24, 2019 to April 26, 2019 |
| Listing Date | May 8, 2019 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹212 to ₹215 per share |
| Issue Price Final | ₹215 per share |
| Lot Size | 65 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 61,55,813 shares (aggregating up to ₹132.35 Cr) |
| Fresh Issue | 32,55,813 shares (aggregating up to ₹70.00 Cr) |
| Offer for Sale | 29,00,000 shares of ₹10 (aggregating up to ₹62.35 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 2,00,78,793 shares |
| Share Holding Post Issue | 2,33,34,606 shares |
Neogen Chemicals IPO offers total 61,55,813 shares. Out of which 30,77,906 (50.00%) allocated to QIB, 12,31,191 (20.00%) allocated to QIB, 9,23,372 (15.00%) allocated to NII, 21,54,535 (35.00%) allocated to RII and 18,46,715 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 30,77,906 (50.00%) | NA |
| − Anchor Investor Shares Offered | 18,46,715 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 12,31,191 (20.00%) | NA |
| NII (HNI) Shares Offered | 9,23,372 (15.00%) | NA |
| Retail Shares Offered | 21,54,535 (35.00%) | 33,146 |
| Total Shares Offered | 61,55,813 (100.00%) |
Neogen Chemicals IPO opens on April 24, 2019, and closes on April 26, 2019.
| IPO Open Date | Wed, Apr 24, 2019 |
| IPO Close Date | Fri, Apr 26, 2019 |
| Tentative Allotment | Fri, May 3, 2019 |
| Initiation of Refunds | Mon, May 6, 2019 |
| Credit of Shares to Demat | Tue, May 7, 2019 |
| Tentative Listing Date | Wed, May 8, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Apr 26, 2019 |
Investors can bid for a minimum of 65 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 65 | ₹13,975 |
| Retail (Max) | 14 | 910 | ₹1,95,650 |
| S-HNI (Min) | 15 | 975 | ₹2,09,625 |
| S-HNI (Max) | 71 | 4,615 | ₹9,92,225 |
| B-HNI (Min) | 72 | 4,680 | ₹10,06,200 |
Incorporated in 1991, Neogen Chemicals is Mahape, Navi Mumbai based manufacturer of bromine-based and lithium-based specialty chemicals in India. Neogen makes both organic and inorganic chemical compounds.
These specialty chemicals are used in pharmaceutical intermediates, agrochemical intermediates, engineering fluids, electronic chemicals, polymers additives, water treatment chemicals, construction chemicals, and flavors and fragrances.
As on February 28, 2019, we have manufactured an aggregate of 198 products comprising 181 organic chemicals and 17 inorganic chemicals. The company markets and sells products in India, Europe, Japan, and the USA.
The manufacturing units of the company are located in Navi Mumbai in Maharashtra and Karakhadi, Vadodara in Gujarat. Neogen is proposing to expand its manufacturing facilities by setting up new units at Vadodara Facility and the Dahej Facility. The Proposed Dahej Facility is a green-field manufacturing facility for manufacturing inorganic chemical products.
The company annually manufactures 1,30,400 liters of organic chemicals and 1,200,000 Kg. of inorganic chemicals.
The competitive strengths of the company are:
1. Wide product range
2. Stable customer base
3. A specialized business model with high entry barriers
4. Continuous investment in R&D
5. Highly knowledge-intensive industry
6. Stable suppliers
| Particulars | For the year/period ended (in Rs. 10 Lakhs) | ||||||
|---|---|---|---|---|---|---|---|
| 31-Dec-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | ||
| Total Assets | 2,374.06 | 1,800.53 | 1,523.15 | 804.82 | 687.56 | 629.33 | |
| Total Revenue | 1592.31 | 1,640.12 | 1,214.67 | 1,088.85 | 914.84 | 799.04 | |
| Profit After Tax | 122.21 | 104.97 | 76.83 | 51.80 | 50.85 | 36.43 | |
The Company Neogen Chemicals IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Prepayment or repayment of all or a portion of certain borrowings availed by the Company | 20.50 |
| 2 | Redemption of 9.8% FRCPS | 11.50 |
| 3 | Long term working capital | 20.00 |
| 4 | General corporate purposes | 12.09 |
[Dilip Davda] NCL has created a niche place in the bromine and lithium product segment. The issue appears fully priced on the basis of given financial data. As the company is now in fast forward mode with enhanced capacities, it holds a promising future. Considering these aspects, investors may consider investment for the long term. Read detail review...
| Listing Date | May 8, 2019 |
| BSE Script Code | 542665 |
| NSE Symbol | NEOGEN |
| ISIN | INE136S01016 |
| Final Issue Price | ₹215 per share |
Neogen Chemicals Ltd.
1002, 10th Floor, Dev Corpora Bldg,
Opp. Cadbury Junction, Off Pokhran Road No. 2,
Khopat, Thane - 400 601
Thane, Maharashtra
Phone: +91 22 2549 7300
Email: investor@neogenchem.com
Website: http://www.neogenchem.com
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: neogenchem.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Neogen Chemicals IPO is a main-board IPO of 61,55,813 equity shares of the face value of ₹10 aggregating up to ₹132.35 Crores. The issue is priced at ₹215 per share. The minimum order quantity is 65.
The IPO opens on April 24, 2019, and closes on April 26, 2019.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Neogen Chemicals IPO using UPI as a payment gateway. Zerodha customers can apply in Neogen Chemicals IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Neogen Chemicals IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Neogen Chemicals IPO opens on April 24, 2019 and closes on April 26, 2019.
Neogen Chemicals IPO lot size is 65, and the minimum amount required for application is ₹13,975.
You can apply in Neogen Chemicals IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Neogen Chemicals IPO will be done on Friday, May 3, 2019, and the allotted shares will be credited to your demat account by Tuesday, May 7, 2019. Check the Neogen Chemicals IPO allotment status.
The Neogen Chemicals IPO listing date is on Wednesday, May 8, 2019.
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