Neogen Chemicals Issues Corrigendum to EGM Notice for Rs. 161 Crore Preferential Issue
Published on: March 17, 2026, 5:40 p.m. | Source: scanx.trade
Neogen Chemicals Limited issued a corrigendum to its EGM notice scheduled for March 29, 2026, following clarifications sought by NSE and BSE on March 11, 2026, regarding its Rs. 161 crore preferential issue. The funds will be deployed across three areas: Rs. 100 crore investment in wholly-owned subsidiary Neogen Ionics Limited for battery materials projects at Dahej with estimated total capex of Rs. 1,500 crore, Rs. 21 crore for working capital, and Rs. 40 crore for general corporate purposes. The corrigendum also clarifies details about promoter group entity Cadamba Solutions Private Limited as the proposed allottee and inter-se share transfers within the promoter family executed under SEBI exemption.
