Clean Science promoters to offload up to 24% stake via $302 mn block deal: Report

Promoter entities of speciality chemicals firm Clean Science and Technology Ltd are set to sell a significant minority stake through a block deal worth up to $302 million (Rs 2,500 crore), Moneycontrol reported.

According to deal terms, Ashok Ramnarayan Boob and family, along with Krishnakumar Ramnarayan Boob and family, plan to dilute up to 24% stake in the company. The shares are being offered at a floor price of Rs 1,030 per share, representing a 12.8% discount to the last closing price.

The proposed transaction carries a three-year lock-up period, though certain carve-outs have been allowed. These include inter-se transfers within the promoter group, sales that result in a change of control, or transactions carried out under a court-approved scheme, the term sheet said.

Spark Institutional Equities, a subsidiary of Avendus Capital, and JP Morgan are the joint brokers managing the sale.

As of now, the promoter group collectively holds a 74.9% stake in Clean Science. In its July earnings call, the management had already hinted at the possibility of a minority stake dilution to support family estate planning and management.

Clean Science and Technology as well as the joint brokers were unavailable for immediate comment on the development.

For Q1FY26, Clean Science and Technology's revenue rose 8% year-on-year to Rs 240 crore, while EBITDA grew 5% to Rs 100 crore. Net profit was up 6% YoY, but margins narrowed by 100 basis points to 41.7%, compared with 42.8% in the year-ago quarter.

The company highlighted that over a quarter of revenue came from new product launches, alongside market share gains during the period.

However, management trimmed its EBITDA growth guidance to 15–18%, down from 18–20%, citing Q1 softness and global headwinds. They expect growth momentum to return from Q3FY26, led by new launches, better capacity utilisation, operating leverage, and expansion into new markets.

Shares of Clean Science and Technology closed at Rs 1181.20,  down by 0.70%.