Clean Science and Technology IPO Subscription Details - Day 1

Clean Science and Technology has been subscribed 1.70 times today on July 7, the first day of bidding.
The offer has received bids for 2.09 crore equity shares vs. IPO size of 1.23 crore equity shares, the subscription data available on the exchanges showed.

The reserved portion of non-institutional investors has been subscribed 2.15 times, retail investors (2.48 times), whereas qualified institutional buyers have put in bids for 18,224 equity shares vs. their reserved portion of 35.15 lakh shares.

The offer size has been reduced to 1.23 crore equity shares from 1.718 crore equity shares on completing fundraising from anchor investors on July 6. 

Clean Science garnered Rs 463.98 crore by issuing 51,55,404 equity shares at a price of Rs 900 per share.

The Rs 1,546.6-crore public issue, a complete offer for sale, will close for subscription on July 9, 2021. The price band for the offer has been fixed at Rs 880-900 per equity share.

Clean Science & Technology IPO - subscription Status

About the Company:

Clean Science and Technology Limited manufactures functionally critical specialty chemicals such as Performance Chemicals, Pharmaceutical Intermediates, and FMCG Chemicals. The company was incorporated in 2003, and within 17 years of incorporation the company has grown to be the largest manufacturer globally of MEHQ, BHA, Anisole and 4-MAP, in terms of installed manufacturing capacities as of March 31, 2021. The company is among the few companies globally which is focused entirely on developing newer technologies using in-house catalytic processes that are eco-friendly and cost competitive. This has enabled the company to emerge as the largest manufacturer globally of certain specialty chemicals in terms of installed manufacturing capacities as of March 31, 2021. Some of these technologies have been developed and commercialized for the first time globally.