July 6, 2021

IPO Alert: Clean Science and Technology opens on 7 July 2021

Blog | IPO

In June, five debutant companies witnessed strong investor interest, with all of them being oversubscribed. This month, too, investors have an opportunity to get their hands on fresh public issues. One of them is global specialty chemicals maker Clean Science and Technology, which is all set to hit the bourses. Here are all the key details about the IPO.

Key details

Price band: ₹880–₹900 per share
Lot size: 16 shares
IPO size: ₹1,546 crore
Fresh issue: NA
Cost per lot: ₹14,400
Issue opens: 7 July 2021
Issue closes: 9 July 2021
Basis of allotment date: 14 July 2021
Initiation of refunds: 15 July 2021
Credit of shares to demat account: 16 July 2021
Expected listing date: 19 July 2021

About Clean Science and Technology

Maharashtra-based Clean Science and Technology is a specialty chemicals manufacturing company, which was established in 2003. It makes performance chemicals, FMCG chemicals and pharma intermediates. The company’s chemicals are used as key raw materials for making products or drugs.

Clean Science and Technology claims to be the largest manufacturer of performance chemicals like MEHQ and BHA as well as FMCG chemicals such as 4-MAP. For the manufacturing process, it uses newer technologies that are “eco-friendly and cost-effective”.

Also, the company has a diversified customer base of domestic and international clients including Bayer AG, SRF, Gennex Laboratories, Nutriad International NV and Vinati Organics.

Over the last three years, the company has reported strong growth. Its revenue and profit have grown at a CAGR of 14% and 43%, respectively, during FY19–20.

About the issue

The IPO of ₹1,546.6 crore consists entirely of an offer for sale.

IPO allocation quota

QIB	NIB	Retail
50%	15%	10%

To know more about the IPO, read its red herring prospectus here. The issue opens on 7 July 2021 and you can subscribe to Clean Science and Technology with Upstox here. Meanwhile, we’ll keep you posted on all the updates about this IPO and the public issues that follow, so stay tuned!