Neogen Chemicals IPO
Neogen Chemicals IPO — date, price band, lot size & details 2019
Neogen Chemicals listed on 8 May 2019 at ₹251, 16.7% above the ₹215 issue price.
Neogen Chemicals makes bromine based and lithium based speciality chemicals for pharma, agrochemical, engineering, electronic and other uses. Its total income was Rs 164.68 crore in FY2018.
Stock price
Neogen Chemicals is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 24 Apr 2019
- Close 26 Apr 2019
- Allotment 03 May 2019
- Refund/credit 06 May 2019
- Listing 08 May 2019
Issue summary
The terms of the offer, as filed.
| IPO Dates | 24 to 26 Apr, 2019 |
|---|---|
| Price Band | ₹212 – ₹215 |
| Face Value | ₹10 |
| Lot Size | 65 Shares |
| Issue Size | ₹132.35 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 13,975 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 65 shares at the ₹215 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 65 | ₹13,975 |
| Retail (max) | 14 | 910 | ₹1,95,650 |
| S-HNI (min) | 15 | 975 | ₹2,09,625 |
| S-HNI (max) | 71 | 4,615 | ₹9,92,225 |
| B-HNI (min) | 72 | 4,680 | ₹10,06,200 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 109.05 crore in FY2016 to Rs 164.68 crore in FY2018.
- 02Profit after tax doubled from Rs 5.18 crore in FY2016 to Rs 10.50 crore in FY2018, and was Rs 12.22 crore in nine months to December 2018.
- 03Its chemicals serve 6 end uses, from pharma and agrochemical intermediates to electronic chemicals and water treatment.
- 04Net worth rose from Rs 27.55 crore in FY2016 to Rs 61.49 crore on 31 December 2018.
Risks · 5
- 01Total borrowing rose from Rs 24.83 crore in FY2016 to Rs 111.76 crore on 31 December 2018, nearly twice its net worth.
- 02Profit after tax was only Rs 10.50 crore on income of Rs 164.68 crore in FY2018.
- 03Bromine and lithium raw material prices can swing; total assets were Rs 237.41 crore.
- 04Chemical plants face pollution rules; Rs 62.35 crore of the issue went to selling shareholders.
- 05Promoter holding fell from 95.79% before the issue to 70% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Neogen Chemicals offer document.
| Metric | 31 Dec 2018 | 31 Mar 2018 | 31 Mar 2017 | 31 Mar 2016 |
|---|---|---|---|---|
| Assets | 237.41 | 180.05 | 152.32 | 80.48 |
| Total Income | 159.69 | 164.68 | 121.78 | 109.05 |
| Profit After Tax | 12.22 | 10.50 | 7.68 | 5.18 |
| NET Worth | 61.49 | 50.06 | 41.97 | 27.55 |
| Reserves and Surplus | 41.64 | 30.23 | 22.03 | 7.55 |
| Total Borrowing | 111.76 | 79.72 | 66.91 | 24.83 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹64.09 Cr of the issue is earmarked to named objects.
Neogen Chemicals IPO Anchor Investors
7 anchor investors across 4 fund houses committed ₹39.70 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| SBI Contra Fund | SBI Mutual Fund | 418,600 | 9.00 | 22.67% |
| SBI Magnum Comma Fund | SBI Mutual Fund | 279,045 | 6.00 | 15.11% |
| SBI Long Term Advantage Fund Series Iv | SBI Mutual Fund | 79,105 | 1.70 | 4.28% |
| SBI Long Term Advantage Fund Series V | SBI Mutual Fund | 200,005 | 4.30 | 10.83% |
| Axis Mutual Fund Trustee Limited - Axis Small Cap Fund | Axis Mutual Fund | 404,820 | 8.70 | 21.92% |
| Sundaram Mutual Fund - Sundaram Small Cap Fund | Sundaram Mutual Fund | 232,570 | 5.00 | 12.59% |
| L&T Mutual Fund Trustee Limited- L&T Emerging Opportunities Fund - Series I | L&T Mutual Fund | 232,570 | 5.00 | 12.59% |
| Total anchor allocation | 39.70 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It makes both organic and inorganic chemical compounds.
Its chemicals are used in pharma intermediates, agrochemical intermediates, engineering fluids, electronic chemicals, polymer additives and water treatment.
The IPO was Rs 132.35 crore, with Rs 70.00 crore of fresh issue and Rs 62.35 crore of offer for sale, at Rs 215, the top of the Rs 212 to Rs 215 band. The fresh money was for repaying borrowings, redeeming preference shares and working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Neogen Chemicals IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Batlivala & Karani Securities India Pvt. Ltd
2 issues handled2 of their issues have listed so far, and 2 opened above the issue price (average +22.9%). That is too small a sample to read as a hit rate.
Inga Ventures Pvt. Ltd
5 issues handledBest listing: Transrail Lighting (+36.6%). Weakest: Allcargo Global Logistics (-1.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Neogen Chemicals?
The current Grey Market Premium is ₹47.5, or 22% over the issue price.
What is the Neogen Chemicals IPO price band?
₹212 to ₹215, on a face value of ₹10.
When is the allotment?
The basis of allotment is 3 May 2019, with listing on 8 May 2019.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
