Neogen Chemicals Limited, a leading Indian producer of bromine- and lithium-based specialty chemicals, has raised ₹200 crore through a private placement of non-convertible debentures (NCDs). The fully paid, secured, rupee-denominated NCDs carry a fixed interest rate of 10.50% and have a tenure of up to 30 months, with interest payable monthly. The issuance was rated CRISIL A with a “Negative” outlook and was fully subscribed by prominent institutional investors.
The debentures will be listed on the BSE, providing additional transparency and liquidity. Proceeds from the issue will be used to enhance the company’s financial flexibility as it executes key expansion projects. A portion of the funds will also be used to fast-track the reconstruction of the organic chemicals plant at Dahej SEZ, which was affected by a recent disruption. The funds will help bridge operational needs until insurance claims are settled.
“We are pleased with the strong response to our NCD issue,” said Dr. Harin Kanani, Managing Director at Neogen Chemicals. “This fundraise reflects investor confidence in our strategy and future potential. The capital will support our ongoing expansion and ensure timely rebuilding of our Dahej plant, reinforcing our commitment to long-term value creation.”
Building on over 30 years of experience in lithium chemistry, Neogen has entered the lithium-ion battery materials space. The company has announced plans to manufacture electrolytes and lithium electrolyte salts, aimed at supporting energy storage and electric vehicle markets.
In April 2024, Neogen began operations at its lithium-ion battery electrolyte facility at Dahej SEZ. In December 2023, its subsidiary Neogen Ionics acquired 65 acres of land in Pakhajan, Dahej PCPIR, Gujarat for battery-related projects. Construction is currently underway. Neogen operates from multiple manufacturing sites across India, including Mahape (Navi Mumbai), Dahej SEZ and Karakhadi (Gujarat), and Patancheru (Hyderabad), the latter integrated following the January 2025 merger of wholly owned subsidiary Buli Chemicals India Pvt Ltd.
Established in 1989, Neogen Chemicals Ltd (is a key player in India’s specialty chemical sector, with expertise in both organic and inorganic bromine- and lithium-based compounds. Its products are widely used across industries, including pharmaceuticals, agrochemicals, electronics, engineering fluids, polymer additives, water treatment, construction, and specialty aroma chemicals. With a product portfolio of over 246 compounds, Neogen also provides custom synthesis and contract manufacturing solutions, developing and producing materials tailored to individual customer needs.
