Clean Science and Technology, GR Infraprojects shares to be listed today, GMP indicates strong debut

Samir SharmaJul 19, 2021Business

Clean Science, GR Infra Listing, Grey Market Premium (GMP): The shares Clean Science and Technology and GR Infraprojects Limited will be listed on the stock exchange today. The equity shares of the two companies will be listed on NSE and BSE at 10 am.

Clean Science is a specialty chemical manufacturer. Its Rs 1,546.62-crore initial public offering (IPO) was entirely an offer for sale (OFS) by existing promoters and other shareholders. Its IPO, a lot comprising 16 equity shares, was subscribed 93.41 times. The company had earlier raised Rs 464 crore from anchor investors.

In the grey market, the premium hints at a strong listing of the company’s shares. The GMP of Clean Science is very strong premium, trading at Rs 615-25 over the issue price of Rs 900 per equity share.

Clean Science and Technology 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.

GR Infraprojects is a Udaipur-based leading integrated road engineering, procurement, and construction (EPC) company with experience in the design and construction of various road and highway projects across 15 states in India. It has recently diversified into projects in the railway sector.

The allotment of its Rs 963-crore initial public offer (IPO) was finalized last week at Rs 837 per share. The IPO was subscribed a whopping 102.58 times. Earlier, GR Infraprojects mobilised a little over Rs 283 crore from anchor investors.

The grey market premium indicates a strong listing today. In the grey market, GR Infraprojects shares were quoting at a premium of Rs 540 over the issue price.

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