Clean Science IPO subscribed 4.28 times on Day 2
Clean Science IPO received bids for 5,26,95,440 shares against 1,23,02,672 shares on offer, as per NSE data
New Delhi: The initial public offer of Clean Science and Technology Limited was subscribed 4.28 times on the second day of subscription on Thursday. The company’s IPO has received bids for 5,26,95,440 shares against 1,23,02,672 shares on offer, as per NSE data.
Qualified Institutional Buyers(QIBs) part was subscribed 2.12 times, non institutional investors portion 4.51 times and those meant for retail individual investors (RIIs) 5.43 times, according to the exchange data. The three-day initial public offer (IPO) is priced in a range of Rs 880-900 per share.
The Rs 1,546.62-crore initial public offering (IPO) is 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 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 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.