Clean Science and Technology Listing: The shares of Clean Science and Technology have had a bumper listing on the stock exchanges today, July 19. Trading of its shares has started today at Rs 1784 per share, which is at a premium of 98.27 percent i.e. Rs 884.40 from the IPO price of Rs 900 per share. Specialty chemical manufacturer Clean Science has a worldwide business and customers around the world. This company manufactures performance chemicals, pharma intermediates and FMCG chemicals. At the time of listing, Clean Science and Technology had a market cap of Rs 18,953 crore.
IPO was oversubscribed 93.41 times
Investors showed tremendous enthusiasm for the IPO of Clean Science and Technology and this IPO of Rs 1546 crore was oversubscribed 93.41 times. Qualified Institutional Buyers subscribed more than 156 times and High Net Worth Individuals (HNIs) by 206 times while retail investors subscribed 9 times more than the reserve share. This public issue was purely an offer for sale.
Travel amid Covid Times: Going out somewhere in Corona time! Keep these things in mind during booking and stay
Brokerage firms gave subscribe rating
Analysts at Motilal Oswal had given a subscribed rating to the issue due to the company’s global leadership in green chemicals, diversified product portfolio, sound financials and focus on the ESG front. The company’s net profit increased from Rs 97 crore in the financial year 2018-19 to Rs 198 crore in 2020-21. Founded in 2003, the company is one of the fastest growing and most profitable companies in specialty chemicals, according to brokerage and research firm Geojit Financial Services. According to Geojit Financial Services, the company will grow at the rate of 5-6 per cent in the next five years. The brokerage and research firm had given a subscribe rating to the issue due to the company’s technical expertise, process innovation, focus on research and development, positive industry outlook, better margin profile and healthy return ratio.
(Article: Kshitij Bhargava)