Clean Science & Technology Ltd. will list its IPO shares on the NSE and BSE today.
The company is one of the leading India-based chemical manufacturers. It primarily deals with Pharmaceutical Intermediates, Performance and FMCG chemicals. Clean Science exports its productions to various international markets and has collected 69% revenues through export in 2020. The company has two manufacturing units in Karkumbh, Maharashtra.
What to expect from Clean Science IPO?
According to financial experts, Clean Science is expected to start the day with impressive returns of nearly 60% of the issue price. Experts believe various factors, including strong financial record, international presence, vast product portfolio and attractive valuations are responsible for the excellent performance of Clean Science stocks.
Clean Science had a final issue price of Rs. 900. However, the equity share was available at Rs. 1,480 – Rs. 1,520 in the grey market. Thus, each share had a massive premium of Rs. 580 – Rs. 640, which is 64.4% – 68.9% of the final issue price.
The grey market price of Clean Science stocks has reached Rs. 1,520 since the closing of its issue. Financial analysts feel that it can list at Rs. 1,400 level, which would be 56% above the final issue price of Rs. 900. However, some expect Clean Science will receive an impressive 60% listing gains from the issue price.
Interestingly, the IPO of this chemical manufacturing giant has been subscribed 93.41 times. Such massive subscription was driven by high demand from both qualified institutional buyers and non-institutional investors. In addition, the retail investors have subscribed 9 times.
How to check the allotment status?
The share allotment status is not yet finalised. Those who have subscribed to Clean Science IPO can check the status of share allotment on the BSE website.
The registrar of Clean Science IPO is Link Intime India Pvt. Ltd. Link Intime’s official website allows investors to check the share allotment status.
A brief overview of Clean Science IPO
Clean Science IPO opened on 7 July 2021. Before the IPO, Clean Science & Technology raised Rs. 464 crores from its anchor investors. The initial public offering of Clean Science was an offer for sale (OFS) by its promoters and shareholders. Clean Science had set its price band at Rs. 880 – Rs. 900 per share. The minimum and maximum lot size of Clean Science IPO was 16 shares and 208 shares, respectively.
Clean Science & Technology IPO has been a hit among investors due to its positive industry outlook, continuous focus on research and development, strong financial gains, decent profit margin, and expansive foreign market.
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Frequently Asked Questions
- Where will Clean Science IPO be listed?
Clean Science IPO will be listed on both NSE and BSE.
- Is it possible to buy Clean Science shares on its listing day?
Yes, you can buy Clean Science shares on the listing day.
- What is the face value of Clean Science IPO?
Re. 1 per equity share