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Pune-based specialty chemicals company Clean Science IPO Makes A Strong Debut; Lists At 98% Premium

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Clean Science Makes A Strong Debut, Lists At 98% Premium

At 10:03 am, Clean Science shares were trading higher by Rs 691.20 or 76.78 per cent on BSE

Clean Science has made a strong debut on the bourses. The shares of the specialty chemicals company started off the day at Rs 1,784.40, a premium of Rs 884.40 or 98.27 per cent on the BSE compared to the issue price of Rs 837. At 10:03 am, Clean Science shares were trading at Rs 1,594.10, up Rs 691.20 or 76.78 per cent on the BSE and at Rs 1,588, up Rs 691.55 or 76.34 per cent on the NSE.

Clean Science and Technology’s Rs 1,546 crore initial public offering (IPO) was subscribed 93.41 times. The IPO was entirely an offer for sale (OFS) by existing investors and there was no fresh issue of shares. The portion reserved for retail investors in the IPO was subscribed nine times, the non-institutional investors (NII) portion was subscribed 206.43 times and the qualified institutional buyers (QIB) segment was subscribed 156.37 times.

The promoters who offloaded stake in the company included Krishnakumar Ramnarayan Boob, Ashok Ramnarayan Boob, Parth Ashok Maheshwari and Siddhartha Ashok Sikchi.

Clean Science and Technology is a Pune-based specialty chemicals company that develops newer technologies using in-house catalytic processes that are eco-friendly and cost-competitive.

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