Neogen Chemicals Subsidiary Approves Rs 100.11 Crore Rights Issue for Battery Materials Expansion
Published on: April 29, 2026, 2:08 a.m. | Source: scanx.trade
Neogen Ionics Limited, a wholly owned subsidiary of Neogen Chemicals Limited, has approved subscription of 71,00,000 equity shares in step-down subsidiary Neogen Morita New Material Limited through a rights issue worth Rs 100,11,00,000. The shares will be issued at Rs 141 per share with a face value of Rs 10 each. Neogen Morita simultaneously increased its authorized capital from Rs 5,00,00,000 to Rs 9,90,00,000 to accommodate the issue. The funds will support salt business acquisition, CAPEX/OPEX requirements, and general corporate purposes for the lithium-ion battery materials focused company incorporated in July 2025.
