Neogen Chemicals IPO Basis of Allotment

Our Company was incorporated as ‘Neogen Chemicals Private Limited' on March 7, 1989, at Thane, Maharashtra as a private limited company under the Companies Act, 1956 and received a certificate of incorporation from the Registrar of Companies, Mumbai, Maharashtra. Subsequently, pursuant to a special resolution passed by the shareholders of our Company on May 2, 1998, our Company was converted to a public limited company and the name of our Company was changed to ‘Neogen Chemicals Limited', and a fresh certificate of incorporation dated July 2, 1998 was issued to our Company by the Registrar of Companies. Mumbai, Maharashtra. For further details, please refer to the chapter ‘History and Certain Corporate Matters' on page 175 of the Prospectus dated May 1,2019 (‘‘Prospectus').

Our Company has filed the Prospectus dated May 1,2019 with the Registrar of Companies, (the 'Prospectus') and the Equity Shares are proposed to be listed on the BSE Limited ('BSE') and the National Stock Exchange of India Limited ('NSE') and the trading will commence on or about May 8,2019.

INITIAL PUBLIC OFFER OF 6,155,813 EQUITY SHARES OF FACE VALUE OF Rs 10 EACH (EQUITY SHARES) OF NEOGEN CHEMICALS LIMITED (OUR COMPANY) FOR CASH AT A PRICE OF Rs 215 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs 205 PER EQUITY SHARE) AGGREGATING Rs 1,323.50 MILLION (OFFER). THE OFFER COMPRISES OF A FRESH ISSUE OF 3,255,813 EQUITY SHARES AGGREGATING Rs 700.00 MILLION BY OUR COMPANY (FRESH ISSUE) AND AN OFFER FOR SALE OF 1,699,600 EQUITY SHARES BY HARIDAS THAKARSHI KANANI (PROMOTER SELLING SHAREHOLDER) AND 1,200,400 EQUITY SHARES BY BEENA HARIDAS KANANI (‘PROMOTER GROUP SELLING SHAREHOLDER', AND ALONG WITH THE PROMOTER SELLING SHAREHOLDER COLLECTIVELY REFERRED TO AS THE ‘SELLING SHAREHOLDERS') AGGREGATING Rs 623.50 MILLION (OFFER FOR SALE). THE OFFER SHALL CONSTITUTE 26.38% OF THE POST-OFFERED PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

Risks to Investors:

This Offer is being undertaken in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (SCRR) read with Regulation 41 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (SEBI ICDR Regulations). The Offer is being made through the Book Building Process in accordance with Regulation 26(1) of the SEBI ICDR Regulations, wherein not more 50% of the Offer was available for allocation on a proportionate basis to Qualified Institutional Buyers (QIBs) (QIB Portion). Our Company, in consultation with the BRLM and CBRLM, allocated 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (Anchor Investor Portion), out of which one-third was reserved for domestic Mutual Funds, subject to valid Bids received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. Further, 5% of the Net QIB Portion was available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion was available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids received at or above the Offer Price. Further, not less than 15% of the Offer was available for allocation on a proportionate basis to Non-lnstitutional Investors and not less than 35% of the Offer was available for allocation on a proportionate basis to Retail Individual Investors in accordance with the SEBI ICDR Regulations, subject to valid Bids received at or above the Offer Price. All Bidders, other than Anchor Investors, (including UPI ID for RIBs using UPI) were advised to participate in the Offer mandatorily through the Applications Supported by Blocked Amount (ASBA) process by providing the details of their respective bank accounts in which the corresponding Bid Amount would be blocked by the SCSBs, to the extent of respective Bid Amounts, to participate in the Offer. Anchor Investors were not permitted to participate in the Offer through the ASBA process. For details, please refer to the chapter 'Offer Procedure'on page 463 of the Prospectus. The Offer received 483,534 applications for 178,709,245 Equity Shares (prior to technical rejections) resulting in 29.0310 times subscription. The details of the applications received in the Offer from various categories are as under: (before technical rejections):

Final Demand

A summary of the final demand as at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being the BSE on May 3, 2019.

A. Allotment to Retail Individual Investors (After Technical Rejections)

The Basis of Allotment to the Retail Individual Investors, who have bid at the Cut-Off Price or at the Offer Price of Rs 215 per Equity Share, was finalized in consultation with the BSE. This category has been subscribed to the extent of 15.3778 times. The total number of Equity Shares Allotted in Retail Portion is 2,154,535 Equity Shares to 33,146 successful Retail Individual Investors. The category-wise details of the Basis of Allotment are as under:

B.  Allotment to Non-lnstitutional Investors (After Technical Rejections)

The Basis of Allotment to the Non-Institutional Investors, who have bid at the Offer Price of Rs 215 per Equity Share or above, was finalized in consultation with the BSE. The Non-lnstitutional Portion has been subscribed to the extent of 111.7268 times. The total number of Equity Shares Allotted in this category is 923,372 Equity Shares to 425 successful Non- Institutional Investors. The category-wise details of the Basis of Allotment are as under (Sample):

C. Allotment to QIBs (After Technical Rejections)

Allotment to QIBs, who have Bid at the Offer Price of Rs 215 per Equity Share or above, has been done on a proportionate basis in consultation with the BSE. This category has been subscribed to the extent of 30.4165 times of QIB Portion. As per the SEBI Regulations, Mutual Funds were Allotted 5% of the Equity Shares of QIB Portion available i.e. 61,560 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were Allotted the remaining available Equity Shares i.e. 1,169,631 Equity Shares on a proportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 1,231,191 Equity Shares, which were allotted to 48 successful QIBs. The category-wise details of the Basis of Allotment are as under:

D. Allotment to Anchor Investors

The Company and the Selling Shareholders, in consultation with the BRLM and CBRLM, have allocated 1,846,715 Equity Shares to 4 Anchor Investors (through 7 Applications) at the Anchor Investor Offer Price of Rs 215 per Equity Share in accordance with the SEBI Regulations. This represents 60.00% of the QIB Portion.

The IPO Committee of our Company on Saturday, May 4, 2019 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being the BSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum-lntimations and/ or notices will be dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued on May 4, 2019 and payment to non-Syndicate brokers have been issued on May 4, 2019. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on May 6, 2019 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the listing applications with NSE and the BSE on May 6, 2019. The Company has received listing and trading approval from NSE and the BSE and the trading will commence on or about May 8, 2019.

All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the allotment made is hosted on the website of the Registrar to the Offer, LINK INTIME INDIA PRIVATE LIMITED at https://www.linkintime.co.in/.

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the first/ sole Bidder, Bid cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder, and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:

LINK INTIME INDIA PRIVATE LIMITED

C-101,1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West), 400 083, Mumbai, Maharashtra, India

Tel.:+91 2249186200; Fax:+91 2249186195

Investor Grievance E-mail: neogenchem.ipo@linkintime.co.in

Website: www.linkintime.co.in,

Contact Person: Shanti Gopalkrishnan

SEBI Registration No.: INR000004058

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the 'Securities Act') or any state securities laws in the United States, and unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any applicable U.S. state securities laws. The Equity Shares are being offered and sold outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and the applicable laws of the jurisdictions where such offers and sales are made. There will be no public offering in the United States.