The initial public offering (IPO) by Neogen Chemicals, which got fully subscribed on Day 2, continued its stellar show even on Friday, the last day for bidding. The Rs 132 crore issues received bids for 1,93,88,265 shares, which is 4.48 times of the total issue size of 43,29,038 shares.
Neogen makes organic chemical compounds – Bromine compounds and other organic compounds containing chlorine, fluorine and iodine-based and combination – used in application industries such as pharmaceutical, agrochemical, flavour and fragrance and electronic chemicals.
The IPO was subscribed 0.27 times and 2 times on the first and second day of bidding process on Wednesday and Thursday, respectively.
The quota for qualified institutional buyers was subscribed 1.40 times, the non-institutional investors quota 4.12 times and the retail quota 6.75 times.
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