Clean Science IPO subscribed 93.41 times on final day of subscription

By: |
July 09, 2021 8:13 PM

The three-day IPO received bids for 1,14,92,30,160 shares against 1,23,02,672 shares on offer, according to data available with the BSE on Friday.

Glenmark Life Sciences IPOLast day to bid for Glenmark Life Sciences IPO.

Speciality chemical manufacturer Clean Science and Technology’s initial public offer was subscribed 93.41 times on the final day of subscription on Friday.

The three-day IPO received bids for 1,14,92,30,160 shares against 1,23,02,672 shares on offer, according to data available with the BSE on Friday.

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.

The Rs 1,546.62-crore initial public offering (IPO) was entirely an offer for sale (OFS) by existing promoters and other shareholders.
Clean Science and Technology on Tuesday raised Rs 464 crore from anchor investors.

The company manufactures functionally critical specialty 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 offer was 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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