Today, Clean Science and Technology has formed thebountiful listing on the stock exchange with a massive 98% premium. It isreported that the company is focusing mainly on boosting finances withproviding industry-leading return ratios, product portfolio, and stronglyfocuses on the environment, social and corporate governance (ESG) front, strongclient base, and R&D initiatives.
On the BSE, the list got at Rs. 1,784.40, and registereda profit of 98.27% from its offer cost of Rs. 900. It is opened at Rs. 1,755.00up 95% from the initial issue price of Rs 837 on the National Stock Exchange(NSE). However, the stock wasn’t able toopen gains and slowly ended up giving some momentum as well as an intraday low ofRs. 1,555.05 on NSE and BSE so far.
At 10:03 hours, it was showing at Rs 1,606.85 on the BSE,up to Rs 78.54 percent over issue price, with a volume of 6.38 lakh equity shares. Thetrade was done over 89 lakh shares on NSE during the initial 40 minutes oftrade and over 8.32 lakh shares were exchanged on the BSE, data showed fromrespective stock exchange.
The Rs 1,546.6 crore IPO of Clean Science and Technologyhas met a high demand during this offer period from July 7-9. The issue wasoversubscribed by a whopping 93.41 times. The Clean Science is the only globalcompany to position vapor-phase technology for manufacturing Anisole fromPhenol with atom economy, with water as effluent compared to liquid phaseprocess.
The company has registered revenue growth at a CAGR of28%, EBITDA of 52%, and a gain of 60% during FY18-FY21. An expansion in margin wasfrom 30.2 %to 50.5% in the same period.