Neogen Chemicals Raises Rs 600 Cr for Battery Expansion

Specialty chemicals manufacturer Neogen Chemicals has successfully raised approximately Rs 600 crore through its qualified institutions placement (QIP). The capital-raising committee allotted 26.61 lakh equity shares to qualified institutional buyers, highlighting strong institutional confidence in the company’s growth and its role in India’s green energy transition. The fresh funds will primarily finance strategic capital expenditures, including the execution of critical battery materials projects like Dahej Phase 1 in Gujarat, strengthening Neogen's capacity to support the country's localized electric vehicle (EV) supply chain.

News by Rahul Yelligetti.