Neogen Chemicals is a Mahape, Navi Mumbai based manufacturer of bromine-based and lithium-based specialty chemicals in India. Neogen makes both organic and inorganic chemical compounds.
| Bidding Dates |
|---|
| 24 Apr 2019 - 26 Apr 2019 |
| Subscription |
|---|
| 41.07x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,975 | 1 | 14 | 65 | 6.1 M | ₹212 - ₹215 | 73.65 % | ₹1303.4 M - ₹1321.8 M | RHP DOC |
Neogen Chemicals IPO SUBSCRIPTION STATUS
26 Apr '19Neogen Chemicals IPO overall subscription rate was 41.07 times the total available shares
Neogen Chemicals IPO retail subscription rate was 15.86 times in the retail segment
Neogen Chemicals IPO non-institutional investor subscription rate was 113.88 times in the non-institutional investor category
Neogen Chemicals IPO Qualified Institutional Bidder subscription rate was 30.49 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
25 Apr 2019 (Day 2) | 3.15x | 1.12x | 0.95x |
26 Apr 2019 (Day 3) | 15.86x | 113.88x | 30.49x |
24 Apr 2019 (Day 1) | 0.5x | 0.1x | 0x |
Neogen Chemicals FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| 9MFY19 | 122.2 | 1,592.3 | -62.7 | -234.0 |
| FY18 | 105.0 | 1,640.1 | 118.5 | -20.4 |
| FY17 | 76.8 | 1,214.7 | 2.1 | -322.1 |
| FY16 | 51.8 | 1,088.9 | 85.9 | 45.5 |
| FY15 | 50.9 | 914.8 | 86.5 | 64.4 |
| FY14 | 36.4 | 799.0 | 29.3 | 15.6 |
Neogen Chemicals IPO SUBSCRIPTION STATUS DETAILS
Neogen Chemicals had 6.1 M shares on offer
Neogen Chemicals IPO offer price was in the range ₹212 - ₹215
Neogen Chemicals IPO minimum Investment was ₹13975
Neogen Chemicals IPO issue size was ₹ 1303.4 M - ₹ 1321.8 M
Neogen Chemicals had a minimum lot size of 65 Shares per application
Neogen Chemicals NUMBER OF SHARES ON OFFER
Neogen Chemicals IPO IMPORTANT DATES
| Issue Open Date | 24 Apr 2019 |
| Issue close Date | 26 Apr 2019 |
| Allotment Date | 03 May 2019 |
| Refund Date | 06 May 2019 |
| Demat Account Credit Date | 07 May 2019 |
| Listing Date | 08 May 2019 |
| Listing on Exchange(s) | NSE and BSE |
| Neogen Chemicals Allotment Status | Exchange |
Neogen Chemicals IPO subscription opened on 24 Apr 2019, and closed on 26 Apr 2019
IPO allotment for Neogen Chemicals was finalized on Friday, 03 May 2019
IPO listing for Neogen Chemicals was on NSE and BSE on Wednesday, 08 May 2019
Neogen Chemicals IPO LISTING GAINS
| Issue Price (adjusted) | 215.0 |
| Listing Open Price | 251.0 |
| Listing Close Price | 263.6 |
| Listing Gain% | 16.7% |
| Current Gain% | 845.1% |
Neogen Chemicals Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Neogen Chemicals Ltd. | 2031.9 | 4741.4 | 156.5 | 27.4 | 6 | 3.5 | 1 | 868.1 | 11.1 | 28.8 | -17.5 | 13 | 5.7 |
| Pidilite Industries Ltd. | 1660 | 168953.2 | 63.8 | 3 | 11 | 22.6 | 15.9 | 14867 | 11.1 | 2448.9 | 17.9 | 26 | 21.4 |
| SRF Ltd. | 2615 | 77515.1 | 35.9 | 0.7 | 4.6 | 13.1 | 7.6 | 15893.6 | 7.2 | 1835.2 | 46.7 | 72.9 | 51.1 |
| Gujarat Fluorochemicals Ltd. | 4518.1 | 49631.3 | 85.9 | 14.7 | 9.9 | 7.3 | 4.9 | 5038 | 3.8 | 578 | 5.8 | 52.6 | 5.9 |
| Himadri Speciality Chemical Ltd. | 752.6 | 37975.8 | 47.5 | 1.6 | 7.6 | 16 | 11.9 | 4832 | 3.6 | 751.3 | 35.2 | 15.8 | 30 |
| Aether Industries Ltd. | 1591.6 | 21122.5 | 89.8 | 2.6 | 17.3 | 8.9 | 6.8 | 1181.1 | 34.2 | 219.5 | 38.5 | 17.7 | 34 |
Neogen Chemicals IPO Reports
Neogen Chemicals INFORMATION ON IPO ISSUE
About Neogen Chemicals
Neogen Chemicals is a Mahape, Navi Mumbai based manufacturer of bromine-based and lithium-based specialty chemicals in India. Neogen makes both organic and inorganic chemical compounds.
Object of the Issue
- Prepayment or repayment of all or a portion of certain borrowings availed by the Company;
- Early redemption of 9.8% FRCPS
- Long term working capital; and
- General corporate purposes
Neogen Chemicals - PROMOTERS
| Name |
|---|
| Haridas Thakarshi Kanani |
| Harin Haridas Kanani |
Neogen Chemicals Book Running Lead Manager
Inga Advisors Private Limited
neogen.ipo@ingaadvisors.com
Batli Vala & Karani Securities India Private Limited
merchantbanking@bksec.com
Neogen Chemicals Registrar to the Offer
Link Intime India Private Limited
neogenchem.ipo@linkintime.co.in
Neogen Chemicals Strengths
Experienced promoters with domain knowledge
The company has experienced promoters with domain knowledge in the field
Large and diverse array of products
As of February 28, 2019, the company has manufactured an aggregate of 198 products comprising 181 organic chemicals and 17 inorganic chemicals
Neogen Chemicals Risks
Commercial intellectual property suit
Neogen Corporation has filed a commercial intellectual property suit against the company which if determined may have an adverse effect on the business and results of operations
Heavily reliant on the demand from application industries
Company is heavily reliant on the demand from application industries such as pharmaceuticals, agrochemicals, refrigeration and construction chemicals
Company does not have long-term agreements with suppliers
Company does not have long-term agreements with suppliers for our raw materials and an increase in the cost of, or a shortfall in the availability or quality of such raw materials could have an adverse effect
IPO FAQs
This IPO consists of an offer for sale of up to Rs 62.5 crore, of 2,900,000 shares. It also consists of a fresh issue of Rs 70.0 crore.
The promoters of the company are Haridas Thakarshi Kanani and Harin Haridas Kanani.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 212.0 - 215.0.
The IPO application opens on Apr 24, 2019 and closes on Apr 26, 2019.
The minimum lot size for the IPO is 65. The maximum lot size for the IPO is 910.
For all category investors, the minimum application amount for this IPO is Rs. 13,975.0, the maximum value for this IPO is Rs 195,650.0.
This IPO will be allotted on May 03, 2019.
The refund will be credited to your account on May 06, 2019.
The allotted shares will be credited to your demat on May 07, 2019.
Neogen Chemicals Ltd.’s shares listed on the stock exchanges on May 08, 2019.