Neogen Chemicals Limited shares opened lower during Friday’s intraday trading session, a day after the specialty chemicals company set the floor price for its Qualified Institutions Placement (QIP) at ₹2,189.73 per equity share.
The company’s floor price has been calculated using the pricing formula prescribed under Regulation 176(1) of the Securities and Exchange Board of India’s (SEBI) Issue of Capital and Disclosure Requirements Regulations.
Neogen QIP floor price
Neogen Chemicals QIP floor price has been fixed at ₹2,189.73 per equity share. It is calculated based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations.
Neogen QIP key dates, discount option
The company’s fund-raising committee has fixed the ‘Relevant Date’ for the purpose of the QIP as September 10, 2026. The floor price is “based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is ₹2,189.73 per Equity Share.” The company may offer a discount of not more than 5% on the floor price.
Neogen QIP shareholder approval
The fundraise has come days after its approval from the company’s board on July 24 and shareholder approval through a special resolution which was passed on August 21.
The company aims to utilise the funds raised through QIP for its battery materials projects (Dahej Phase 1 and Pakhajan Phase 2). The QIP fund will also be utilised for reducing its debt footprint.
Neogen share price trend
Shares of Neogen Chemicals Limited were trading 3.53% lower at ₹2300 per share on BSE with a market capitalisation of ₹6,297.79 crore at 10:08 am on Friday, September 11. The stock had touched an intraday high of ₹2,408.55 per share and an intraday low of ₹2,275.95 per share.
The company scrip touched its 52-week high of ₹2,482.70 per share on August 18, 2026. The stock fell to its 52-week low of ₹978 per share on December 9, 2026. The stock has a return on equity (ROE) of 6.64%. Its share price value has surged 13.38% in three months and around 60% in six months. The specialty chemical stock has delivered close to 94% return in 2026 so far.
What is a QIP?
Qualified Institutional Placement (QIP) is one of the key ways for Indian public companies to raise funds with less regulatory burden by issuing securities directly to qualified institutional buyers in the domestic market. The method lets companies to raise funds and allow already-existing Indian companies to issue securities directly to institutional investors without going through complex public-offering.