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Neogen Chemicals to list equity shares on May 8

May 07
21:33 2019

After an overwhelming response to its initial public offering, Neogen Chemicals will debut on the bourses on May 8.

The issue price is fixed at the higher end of the price band of Rs 212-215 per share.

The Rs 132-crore public offer that was open from April 24-26, 2019, was oversubscribed 41.18 times.

The reserved category for qualified institutional buyers was subscribed 30.49 times and non-institutional investors 113.88 times. The retail portion was oversubscribed 16.06 times.

The IPO comprised of a fresh issue of up to Rs 70 crore and an offer-for-sale of up to 29 lakh equity shares.

Neogen Chemicals is a manufacturer of bromine-based and lithium-based speciality chemicals.

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