Well, the shares of Clean Science and Technology have been made a very strong listing on National Stock Exchange (NSE) and BSE that is over 100% premium from its price band of Rs. 880-900 per share.
Notably, the post listing, the market capitalization of the company stood at Rs. 16,786 crore as per the BSE data.
However, the shares of Clean Science and Technology were trading at Rs 1,590 at 10:15 a.m. on 19th July.
Further, the grey market premium of the stock had suggested a 60-70% premium which is over the issue’s price.
On the other hand, the IPO has received a positive response from the investors considering which the investors had bid for 114.92 crore equity shares against the IPO size of 1.23 crore equity shares.
Between 7th -9th June, the issue was open for subscription. Well, the IPO was completed to offer for sale (OFS) by existing promoters and other shareholders. However, the whole Rs. 1,546 crore share sale priced around Rs. 880-900 a piece which was from existing investors Ashok Ramnarayan Boob (Rs 244 crore), Krishnakumar Ramnarayan Boob (Rs193 crore), Sddharatha Ashoka Sikchi (Rs 40 crore), and part Ashok Maheshwari (Rs 75 crore).
Notably, Clean Science and Technology is among the few companies, globally, focused wholly on the development of newer technologies by making use of in-house catalytic processes, that are eco-friendly and expense competitive.
Further, the company manufactured critical specialty chemicals which as performance chemicals, pharmaceutical intermediates, fast-moving consumer goods (FMCG) chemicals, and other products.