Market Neogen Chemicals IPO: Here's why analysts have mixed recommendations Updated : April 24, 2019 12:38 PM IST Through the IPO, Neogen Chemicals is looking to raise about Rs 70 crore by issuing fresh equity shares, with promoters offloading 29 lakh shares. Anand Rathi recommends ‘Subscribe’ considering the company’s ability to grow profitably and command better return ratios. Choice Broking Research says ‘Avoid’ the IPO as it is valued at a P/E multiple of 47.8x which is at a premium to its peer average of 38.8x. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.