India's Neogen Chemicals falls on discounted floor price for share sale

Neogen Chemicals

11/09/2026 05:38

** Shares of specialty chemicals maker Neogen Chemicals NEOE.NS fall 3.22% to 2,314 rupees
** Stock on track to snap six sessions of gains, if trend holds
** Co opens qualified institutional placement, sets floor price at 2,189.73 rupees per share
** Floor price represents an 8.3% discount to stock's Thursday close
** Co said it may offer discount of up to 5% to floor price; final issue price to be determined in consultation with lead managers
** NEOE rated "buy" on average by 10 analysts, median PT at 2,280 rupees - data compiled by LSEG
** YTD, stock up 95.6%

(Reporting by Surbhi Misra in Bengaluru)
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