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Neogen Chemicals Ltd, incorporated in 1991, manufactures bromine and lithium-based organic and organo-metallic compounds, used in the pharmaceutical, agricultural chemicals, and engineering industries.
Neogen Chemicals' subsidiary NIL is selling an undertaking to its step-down subsidiary NML for ₹245 Cr. This strategic consolidation aims to streamline the Electrolyte Salt (LiPF6) business. The undertaking represents 19.05% of the company's consolidated net worth.
An immediate relative of a Neogen Chemicals director transferred 354 equity shares (0.001% of capital) to another relative via an off-market gift. This internal family transaction involved no financial exchange, indicating a minor internal change in shareholding.
Institutional investor SBI Mutual Fund has sold 2,11,931 shares of Neogen Chemicals. This disposal reduced SBI MF's holding from 8.5930% to 6.0280% of the company's total paid-up capital. This stake change by a key fund manager is noteworthy for retail investors.