BusinessNeogen Chemicals Raises ₹6 Billion in QIP to Reduce Debt
Maharashtra-based Neogen Chemicals raised about ₹6 billion (~$60 million) through its first qualified institutional placement (QIP), subscribed over 6.5 times by domestic and global investors including ICICI Prudential, Invesco, Mirae Asset, SBI Life, and Abu Dhabi Investment Authority. The funds will repay debt, support working capital, and improve the company's debt-to-equity ratio for financial flexibility.
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