Clean Science shares jump over 98% in debut trade
Clean Science and Technology Ltd shares zoomed over 98 per cent in debut trade on Monday against its issue price of ₹900, reflecting strong investor confidence in the speciality chemical manufacturers. Clean Science stock debuted at ₹1,784.40, registering a premium of 98.26 per cent from the issue price on the BSE. Clean Science shares listed at ₹1,755, a jump of 95 per cent, on the National Stock Exchange (NSE).
Earlier this month, Clean Science initial public offer (IPO) was subscribed 93.41 times. The ₹1,546.62-crore initial public offering (IPO) was priced in a range of ₹880-900 per share.
Kotak Mahindra Capital Company Limited, Axis Capital Limited, and JM Financial Limited managed the Clean Science offer.
The Pune-based company manufactures functionally critical speciality chemicals such as performance chemicals, pharmaceutical intermediates and FMCG chemicals.
Clean Science's customers include manufacturers and distributors in India as well as other international markets, including China, Europe, the United S, Taiwan, Korea, and Japan.