Live
- DEO suspends teacher accused of sexual assault
- PM ‘cursing’ Congress out of despair: Maharashtra Cong Chief
- Applications are invited for Junior Colleges Scheme District Scheduled Castes Development Officer Ramlal
- A nomination was filed on the second day for the Nagar Kurnool parliamentary seat
- SP Gaikwad inspected the Telangana Amarnath Saleswaram Jatara yatra arrangements
- Rahul Gandhi's decision to contest from Wayanad shows 'lack of confidence': BJP President Nadda
- IPL 2024: Delhi bowlers will go after all of SRH’s top-order batters, says head coach Ricky Ponting
- At Amroha rally, PM Modi sends out ‘meaningful’ message for Muslims and Hindus
- Tripura records highest 79.83 pc voter turnout in Northeast
- The government has to clear the confusion
Clean Science & Technology: Opens today; Key details investors should know before investing
Clean Science & Technology: Opens today; Key details investors should know before investing
Clean Science & Technology's initial public offering (IPO) opens for subscription today, i.e. on July 7, 2021. The company seeks to raise Rs 1,546.62 crore through the public offering
Clean Science & Technology's initial public offering (IPO) opens for subscription today, i.e. on July 7, 2021. The company seeks to raise Rs 1,546.62 crore through the public offering.
Investors can bid for the IPO in the price band of Rs 880-900 per equity share. The investors can subscribe to the issue in a lot of 16 shares, which translates to a minimum investment of Rs 14,400 at the higher end of the price band. The subscription window for investors will close on Friday, July 9, 2021.
The issue of Clean Science is entirely an offer for sale (OFS) by the existing investors, including promoters of the company Ashok Ramnarayan Boob, Krishnakumar Ramnarayan Boob, Siddhartha Ashok Sikchi and Parth Ashok Maheshwari. The offer does not involve a fresh issue.
Post-IPO, promoter and promoter group shareholding will drop to 78.51 per cent from 94.65 per cent, while the public shareholding in the firm will increase to 21.49 per cent from the current 5.35 per cent.
A total of 1.71 crore equity shares are on offer. Of the total issue size, half or 85.92 lakh equity shares worth Rs 773 crore are reserved for qualified institutional buyers (QIB). Retail investors' quota is fixed 35 per cent of the total issue or 60.14 lakh equity shares, translating to Rs 541 crore. Non-institutional investors (NII) can bid for 15 per cent of the entire issue or 25.77 lakh equity shares worth Rs 232 crore.
The company will not receive any funds from the public issue as the IPO is entirely an offer for sale.
The shares of the company will be listed on NSE and BSE. Book running lead managers of the issue are Axis Capital, Kotak Mahindra Capital, JM Financial.
Incorporated in the year 2003, Clean Science & Technology is a fine and specialty chemical manufacturing company, with innovative chemical processes developed in-house. Clean Science and Technology is a family-owned business and works on developing newer technologies using in-house catalytic processes, which are eco-friendly and cost-competitive.
