Clean Science IPO subscribed 1.70 times on Day 1

By: |
July 07, 2021 8:06 PM

The portion for qualified institutional buyers (QIBs) was subscribed 1 per cent, non-institutional investors 2.15 times and retail individual investors (RIIs) 2.48 times.

Anand Rathi Wealth IPOPromoters of the company and other shareholders will sell 1.2 crore shares of Anand Rathi Wealth through the public issue.

The initial public offer of speciality chemical manufacturer Clean Science and Technology Limited was subscribed 1.70 times on Wednesday, the first day of subscription.

The public offer received bids for 2,09,47,200 shares against 1,23,02,672 shares on offer, according to data available with the NSE.

The portion for qualified institutional buyers (QIBs) was subscribed 1 per cent, non-institutional investors 2.15 times and retail individual investors (RIIs) 2.48 times.

The Rs 1,546.62-crore initial public offering (IPO) is entirely an offer for sale (OFS) by existing promoters and other shareholders.

The price range for the offer was fixed at Rs 880-900 per share.

Clean Science and Technology on Tuesday raised Rs 464 crore from anchor investors.

The company manufactures functionally critical speciality 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.

The initial public offer is being managed by Kotak Mahindra Capital Company Limited, Axis Capital Limited and JM Financial Limited.

The equity shares of the company will be listed on NSE and BSE.

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