Clean Science and Technology IPO: Subscription opens today, Check price band and GMP

    0
    clean science ipo, clean science share price


    clean science ipo, clean science share price
    Image Source : CLEANSCIENCE.CO.IN

    Clean Science and Technology IPO: Subscription opens today, Check price band and GMP 

    Clean Science and Technology IPO, Grey Market Premium: Speciality chemical manufacturer Clean Science and Technology’s initial public offer (IPO) will open for retail subscription on Wednesday.  The company has fixed a price band of Rs 880-900 a share for its over Rs 1,546 crore-initial public offer. The three-day IPO will conclude on July 9. 

    The Rs 1,546.62-crore IPO is entirely an offer for sale (OFS) by existing promoters and other shareholders. Those offering shares in the OFS include Anantroop Financial Advisory Services, Ashok Ramnarayan Boob; Krishnakumar Ramnarayan Boob; Siddhartha Ashok Sikchi; and Parth Ashok Maheshwari. Half of the issue size has been reserved for qualified institutional buyers, up to 35 per cent for retail investors, and the remaining 15 per cent for non-institutional buyers.

    The company has decided to allocate 51,55,404 equity shares to anchor investors at Rs 900 apiece, which is the upper end of the price band, aggregating to Rs 464 crore.

    Earlier on Tuesday, the company said that it raised Rs 464 crore from anchor investors. 

    Clean Science Technology GMP

    The grey maket premium suggest a strong listing. An unlisted share of Clean Science and Technology is commanding a premium of Rs 470.

    Clean Science Technology manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates and FMCG chemicals. Its products are used as key starting level materials, as inhibitors, or as additives, by customers, for products.

    Clean Science and Technology is known for an established market position and dominant presence in key specialty chemical products, well-diversified clientele, and application of the products largely in industries manufacturing essentials which limits impact of COVID-19 pandemic. The company has multiple manufacturing facilities in Kurkumbh, MIDC Maharashtra that are automated to maintain high levels of accuracy and efficiency.

    See also  Prime Minister Narendra Modi to address the CoWin Global Conclave today

    The Pune-based company’s customers include manufacturers and distributors in India as well as other international markets including China, Europe, the US, Taiwan, Korea, and Japan. Nearly two-third of the company’s revenues come from exports.

    Latest Business News





    Source link