Clean Science and Technology launches bountiful listing, 98% premium over issue price.
It is opened at Rs. 1,755.00 up 95% from the initial issue price of Rs 837 on the National Stock Exchange (NSE).Author : Priyal Mahajan
Today, Clean Science and Technology has formed the bountiful listing on the stock exchange with a massive 98% premium. It is reported that the company is focusing mainly on boosting finances with providing industry-leading return ratios, product portfolio, and strongly focuses on the environment, social and corporate governance (ESG) front, strong client base, and R&D initiatives.
On the BSE, the list got at Rs. 1,784.40, and registered a profit of 98.27% from its offer cost of Rs. 900. It is opened at Rs. 1,755.00 up 95% from the initial issue price of Rs 837 on the National Stock Exchange (NSE). However, the stock wasn’t able to open gains and slowly ended up giving some momentum as well as an intraday low of Rs. 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. The trade was done over 89 lakh shares on NSE during the initial 40 minutes of trade and over 8.32 lakh shares were exchanged on the BSE, data showed from respective stock exchange.
The Rs 1,546.6 crore IPO of Clean Science and Technology has met a high demand during this offer period from July 7-9. The issue was oversubscribed by a whopping 93.41 times. The Clean Science is the only global company to position vapor-phase technology for manufacturing Anisole from Phenol with atom economy, with water as effluent compared to liquid phase process.
The company has registered revenue growth at a CAGR of 28%, EBITDA of 52%, and a gain of 60% during FY18-FY21. An expansion in margin was from 30.2 %to 50.5% in the same period.