Neogen Chemicals’ board has approved the investment up to an amount of 20 million Japanese Yen (JPY) in company’s wholly owned subsidiary -- Neogen Chemicals Japan Corporation (NCL Japan) by way subscribing to the equity shares as may be issued, offered and allotted by NCL Japan. The Board of Directors of the company has on recommendation and approval of the Audit Committee, at its meeting held on March 25, 2025, inter alia considered and approved the same.
Further, the company’s board has approved execution of Share subscription agreement between the company and NCL Japan in terms of which the company shall invest in NCL Japan by subscribing to 20,00,000 Equity Shares of a face value of 10 JPY each aggregating to 20 million JPY as may be offered and issued by the NCL Japan constituting 100% shareholding in NCL Japan. The subscription and allotment is expected to be completed within 60 days from the date of receipt of share application money by NCL Japan from the company.
Neogen Chemicals is specializing in Bromine based compounds, Grignard Reagents and Inorganic Lithium Salts.
