Clean Science Technology share makes stellar debut, lists at 98% premium over issue price

 

 

 

Clean Science Technology made a stellar market debut today, with its share rising 98.2% above its issue price on BSE.

 Share of Clean Science Technology listed at Rs 1,784.40 against IPO issue price of Rs 900 on BSE.

Market cap of the firm rose to Rs 17,037 crore.

 Total 8.84 lakh shares amounting to turnover of Rs 141.95 crore changed  hands on BSE. On NSE, the stock listed  at Rs 1,755, rising 95% over IPO issue price of Rs 900.

Market cap of the firm rose to Rs 17,019 crore on NSE.

The IPO of speciality chemical manufacturer was held from July 7 to July 9. The issue was subscribed 93.41 times on the final day of subscription.

The IPO received bids for 114.92 crore shares against 1.23 crore shares  on offer.

The category meant for qualified institutional buyers (QIBs) was subscribed 156.37 times, non-institutional investors 206.43 times, and retail individual investors (RIIs) nine times.

The company raised Rs 1,546.62 crore from the issue. The IPO was entirely an offer for sale (OFS) by existing promoters and other shareholders.

Clean Science and Technology on July 6 raised Rs 464 crore from anchor investors.

The company manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates, and FMCG chemicals.

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.