IPO Wrap: Strong support for both IPOs that closed on Friday, Clean Science subscribed 93 times and GR Infraprojects 103 times

The IPOs of both the companies, which closed on Friday, July 9, have received tremendous support from investors.

Clean Science And GR Infraprojects IPOs Closed: The two major IPOs that closed on Friday have received an overwhelming response from investors. These two IPOs are of Clean Science and Technology and GR Infraprojects. Huh. Subscriptions in the IPOs of both the companies were open from 7 to 9 July 2021. The IPO of Clean Science has been subscribed 93.41 times by investors, while the IPO of GR Infraprojects has been subscribed even more, 102.58 times. This information has been received from the data available on BSE.

The IPO of Clean Science received applications for 114.92 crore shares in total, while its issue size was only 1.23 crore shares. In this too, shares held for Qualified Institutional Buyers (QIBs) have been subscribed 156.37 times, while those of non-institutional investors have been subscribed 206.43 times. Retail Individual Investors (RIIs) have also subscribed 9 times to the issue. The total issue size of the IPO of this specialty chemical firm is Rs 1,546.6 crore, which opened on 7 July and closed on 9 July 2021 at 5 pm. A price band of Rs 880 to 900 per share was fixed for the shares of the company. Before the IPO, Clean Science had raised about Rs 464 crore from 41 anchor investors at a price of Rs 900 per share.

GR Infraprojects IPO also received a great response

Talking about GR Infraprojects, this infrastructure company received applications for a total of 83.33 crore shares under the IPO, while its total issue size was only 81.23 lakh shares. According to the stock exchange data, shares held for QIBs were subscribed 168.58 times, while non-institutional investors subscribed 238.04 times. RIIs i.e. Retail Individual Investors also subscribed it 12.57 times. The shares held by the company for its employees have received 1.37 times the subscription.

The IPO of GR Infraprojects worth Rs 963 crore has also opened on July 7 and closed on Friday itself. The price band for the company’s shares was fixed at Rs 828 to Rs 837 per share. This Udaipur-based company has raised Rs 283 crore from 47 anchor investors at a price of Rs 837 per share before bringing the IPO.

When will the allotment of shares take place in both the IPOs?

In both the IPOs, now investors will be waiting for the allotment of shares. According to the information given in the red herring prospectus of both the companies, the work of finalizing the basis of allotment is expected to be completed on July 14, 2021.