The shares of this speciality chemical maker have been listed at a premium of 98 percent. The company’s shares are listed on BSE at Rs 1784 with a premium of 98 per cent. Whereas the issue price of the company was Rs 900. On the other hand, Clean Science has been listed on NSE at Rs 1755 at a premium of 95%.
Clean Science’s IPO opened on July 7 and closed on July 9. The issue of this speciality chemical maker was subscribed 93.41 times. Though the issue was booked only 9 times in the retail segment, there was a strong demand from qualified institutional and non-institutional investors.
It was trading at Rs 1606.85 at 10.03 am, which was 78.54 per cent higher than its issue price by Rs 706.85. The trading volume of the company’s shares was 6.38 lakhs.
What was the opinion of the analysts?
The issue of speciality chemical company Clean Science and Technology was advised to be bought by analysts. Considering the company’s strong and long relationship with multinational clients, good earnings record and strong return ratio, cost control, consistent innovation-R&D and positive outlook of the industry, the investment in this IPO was recommended.
Aastha Jain of Hem Securities had said that the financial position of Clean Science & Technology is very good. The company enjoys market leadership in some of its products. The company has strong clients such as Bayer AG and SRF, Gennex Laboratories and Vinati Organics. Apart from this, the prospects of chemical industries are also looking strong, in view of which investment in clean science technology is advised.