Clean Science and Technology IPO: Allotment tomorrow, Check grey market premium

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Image Source : CLEANSCIENCE.CO.IN

Clean Science and Technology IPO: Allotment tomorrow, Check grey market premium 

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Clean Science and Technology will finalise its IPO share allotment on Wednesday. The shares will be credited to demat account on July 16 and listing will take place on July 19. The equity shares of the company will be listed on NSE and BSE.

The issue saw a strong demand from investors across the board. The Rs 1,546.62-crore public offer of the specialty chemical manufacturer opened for subscription from July 7 to 9. It saw a subscription of 93.41 times.

The issue, with a price band of Rs 880-900 a share, received bids for 1,14,92,30,160 shares against 1,23,02,672 shares on offer.

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The Clean Science IPO market lot size is 16 shares. As per the Sebi rule, a retail investor can apply for up to 13 lots.

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. Earlier, Clean Science and Technology had raised Rs 464 crore from anchor investors.

Clean Science GMP

In the grey market, the unlisted shares of Clean Science and Technology are commanding a premium of 50 per cent (Rs 440-450) above the issue price.

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The Pune-based company manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates, and FMCG chemicals. Its customers include manufacturers and distributors in India as well as other international markets, including China, Europe, the US, Taiwan, Korea, and Japan.

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