Bookbuilding IPO | ₹132 Cr | Listed at BSE, NSE | Wed, Apr 24, 2019 - Fri, Apr 26, 2019
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 per share. The lot size for an application is 65. The minimum amount of investment required by an retail is ₹13,975 (65 shares) (based on upper price). 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 Open
Wed, Apr 24, 2019
IPO Close
Fri, Apr 26, 2019
Issue Price
₹215 per share
Market Cap (Pre-IPO)
₹501.69 Cr
| IPO Date | 24 to 26 Apr, 2019 |
| Listed on | Wed, May 8, 2019 |
| Face Value | ₹10 per share |
| Price Band | ₹212 to ₹215 |
| Issue Price | ₹215 per share |
| Lot Size | 65 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 61,55,813 shares (agg. up to ₹132 Cr) |
| Fresh Issue | 32,55,813 shares (agg. up to ₹70 Cr) |
| Offer for Sale | 29,00,000 shares of ₹10 (agg. up to ₹62 Cr) |
| Share Holding Pre Issue | 2,00,78,793 shares |
| Share Holding Post Issue | 2,33,34,606 shares |
| BSE Script Code / NSE Symbol | 542665 / NEOGEN |
| ISIN | INE136S01016 |
Neogen Chemicals IPO comprises a total issue size of 61,55,813 shares. Out of which, 30,77,906 (50.00%) are allocated to QIB, 9,23,372 (15.00%) allocated to NII 21,54,535 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max 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% |
Investors can bid for a minimum of 65 shares and in multiples thereof.
| 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 |
Neogen Chemicals IPO raises ₹39.70 crore from anchor investors. Neogen Chemicals IPO Anchor bid date is April 23, 2019.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Apr 23, 2019 |
| Shares Offered | 18,46,715 |
| Anchor Portion (₹ Cr.) | 39.70 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Jun 2, 2019 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Aug 1, 2019 |
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
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
The Neogen Chemicals IPO is subscribed 41.07 times on April 26, 2019 6:49:03 PM (Day 3). The public issue subscribed 15.86 times in the retail category, 30.49 times in the QIB category, and 113.88 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 30.49 | 12,28,094 | 3,74,48,580 |
| NII | 113.88 | 9,30,283 | 10,59,42,525 |
| Retail | 15.86 | 21,70,661 | 3,44,18,215 |
| Total | 41.07 | 43,29,038 | 17,78,09,320 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager and CoBook Running Lead Manager Fees and their respective associates | 3.97 |
| 2 | Selling commission and processing fees for SCBs | 0.78 |
| 3 | Fees of Registrar to the Offer | 0.57 |
| 4 | Fees to the legal advisor, audit / chartered accountant fees, other service providers, and statutory fees | 2.93 |
| 5 | Printing and distribution expenses | 0.65 |
| 6 | Advertising and marketing expenses | 1.76 |
| 7 | Listing Fees | 0.07 |
| 8 | Others, i.e Bid verification charges, approval fees, validation fees | 0.41 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹215.00 | ₹215.00 |
| Open | ₹251.00 | ₹251.00 |
| Low | ₹250.10 | ₹250.50 |
| High | ₹263.55 | ₹263.55 |
| Last Trade | ₹263.55 | ₹263.55 |
Lead Manager Reports
Neogen Chemicals IPO is a main-board IPO of 61,55,813 equity shares of the face value of ₹10 aggregating up to ₹132 Crores. The issue is priced at ₹215 per share. The minimum order quantity is 65.
The IPO opens on Wed, Apr 24, 2019, and closes on Fri, Apr 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 Wed, Apr 24, 2019 and closes on Fri, Apr 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 Tue, May 7, 2019. Check the Neogen Chemicals IPO allotment status.
The Neogen Chemicals IPO listing date is on Wed, May 8, 2019.
