NEOGEN RAISED RS 200 CR FUNDS FROM QIB @ ₹2,255/SHARE

• QIP issue size ₹600 Cr at ₹2,255/share; net proceeds ₹580 Cr, with ₹230.35 Cr utilised in the quarter. • Board approved expanding organo-lithium capacity at Patancheru to 600 MT/PA from 300 MT/PA; capex up to ₹45 Cr, with ₹150-200 Cr revenue potential. • Board approved early redemption of ₹200 Cr NCDs; Crisil downgrade and coupon increase to 11.00% are risks to monitor. Impact: QIP proceeds and organo-lithium expansion support growth, but rating downgrade and higher NCD cost warrant caution.

Neogen Chemicals Limited

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