Neogen Chemicals Limited incorporated the wholly owned subsidiary named Neogen Ionics Limited on March 29, 2023. Neogen Ionics Limited has an authorised capital of Rs. 5,00,00,000 divided into 50,00,000 equity shares of Rs. 10 each. Subscribed and Paid-up equity capital of the company is Rs. 1,00,00,000 divided into 10,00,000 equity shares of Rs. 10 each. The turnover not applicable as Neogen Ionics is yet to commence its business operations.

The company will focus on specialty chemicals and is incorporated with the main objective to address the growth opportunities in energy storage such as Lithium-Ion Battery material space and other future energy storage chemistries.

Neogen Ionics will manufacture Lithium-Ion battery materials with an initial plan of manufacturing electrolytes and Lithium salts needed for electrolytes.