Clean Science IPO makes its debut: All you need to know the issue

Clean Science and
Technology made a solid debut on the bourses on Monday as the stock got listed
at Rs 1,784 on BSE, at a 98.26% premium to its issue price of Rs 900. On the
NSE, the scrip got listed at Rs 1,755, up by 95%, reports Economic Times.

The IPO was
subscribed 93.41 times.

About the
company:

Clean Science and
Technology manufactures critical specialty chemicals such as performance chemicals,
pharmaceutical intermediates and FMCG chemicals.

Based out of Pune,
Maharashtra, the company’s customers include manufacturers and distributors in
India and other international markets including the US, China, Europe and
Taiwan.

Stock details:

1.    
Opening
date: July 7

2.    
Closing
date: July 9

3.    
Number
of equity shares: 1,23,02,672

4.    
Number
of bids: 1,14,92,30,160

5.    
Face
value: Rs 1 per share

6.    
Offer
price: Rs880–900 per equity share

Purpose of
stock listing:

According to the
company, the prime purpose of the issue was to enhance visibility, brand,
provide liquidity to existing share holders and achieve the benefits of listing
shares on stock exchanges.

Clean Science
claims to be among few global companies focused entirely on developing newer
technologies using in-house catalytic processes. This has enabled the company
to become the largest global manufacture in certain specialty chemicals,
Business Standard reports.