(iStock)
(iStock)

Neogen Chemicals IPO subscribed 1.39 times

  • Neogen Chemicals IPO received bids for 60,21,405 shares against the total issue size of 43,29,038 shares, as per data available on NSE data till 1530 hours on Thursday
  • The IPO comprises fresh issue of up to Rs70 crore and offer for sale of up to 29,00,000 equity shares, including anchor portion of 18,46,715 equity shares

New Delhi: The initial public offer of Neogen Chemicals has been subscribed 1.39 times so far on the second day of bidding.

The Rs132-crore initial public offer (IPO) received bids for 60,21,405 shares against the total issue size of 43,29,038 shares, as per data available on NSE data till 1530 hours on Thursday. Till Wednesday, the offer was subscribed 27%.

The IPO comprises fresh issue of up to Rs70 crore and offer for sale of up to 29,00,000 equity shares, including anchor portion of 18,46,715 equity shares.

Price range for the offer, which is scheduled to close on Friday, has been fixed at 212-215 per share.

Inga Advisors Private Limited and Batlivala & Karani Securities India Private Limited are the book running lead managers to the offer.

Equity shares of the company are proposed to be listed on BSE and NSE.

Neogen Chemicals is a manufacturers of bromine-based and lithium-based specialty chemicals.


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