Clean Science and Technology IPO ends with strong subscription

The initial public offer (IPO) of Clean Science and Technology received bids for 114.92 crore shares as against 1.23 crore shares on offer. The issue was subscribed 93.41 times.

The non-institutional investors category was subscribed 206.43 times. The qualified institutional buyers (QIBs) category was subscribed 156.37 times. The retail individual investors category was subscribed 9 times.

Clean Science and Technology IPO ends with strong subscription
Clean IPO ends with strong subscription

The issue opened for bidding on Wednesday, 7 July 2021, and closed on Friday, 9 July 2021. The price band for the IPO was set at Rs 880-900 per share.

The offer comprised of offer for sale (OFS) aggregating up to Rs 1,546.62 crore by existing shareholders, including promoters Ashok Ramnarayan Boob, Krishnakumar Ramnarayan Boob, Siddhartha Ashok Sikchi and Parth Ashok Maheshwari.

Ahead of the IPO, the company finalized allocation of 51,55,404 equity shares to anchor investors at Rs 900 per share, aggregating to Rs 463.98 crore.

Manufactures of Science and Technology:-

Clean Science and Technology manufactures functionally critical specialty chemicals such as performance chemicals- mono methyl ether of hydroquinone (MEHQ), butylated hydroxyl anisole (BHA), L-ascorbyl palmitate and anisole. The firm is among the few companies globally focused entirely on developing newer technologies using in-house catalytic processes, which are eco-friendly and cost competitive.

Clean Science and Technology IPO ends with strong subscription

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