The allocation of shares in Clean Science and Technology IPO is expected to be finalized today. The specialty chemicals maker’s initial public offering was subscribed 93.41 times, driven by huge demand from qualified institutional buyers and non-institutional investors. The retail investor segment was subscribed nine times. Link Intime India Private Ltd is the registrar of the IPO and once finalized, investors can check the allocation of shares on the Link Intime website.
Investors can also check their Clean Science share award status on the ESB website.
According to the brokerages, the IPO of Clean Science and Technology is expected to be listed on July 19.
the ₹Clean Science and Technology’s 1,550 crore IPO was entirely an offer to sell (OFS) by existing promoters and other shareholders. Prior to the opening of the IPO, Clean Science had ₹464 crore from anchor investors. The company had set a price range of ₹880-900 per share.
The Pune-based company, which was incorporated in 2003, is a fine and specialty chemicals manufacturing company and claims to be the world’s largest manufacturer of certain specialty chemicals.
Many brokerages had recommended subscribing to the show, saying the company was well positioned to capitalize on opportunities in the specialty chemicals sector, through its process innovation, catalyst development, significant scale of operations and its strategic integration upstream.
“In the upper price bracket of Rs.900, Clean Science and Technology is available at a P / E of 48x (FY21) which appears to be fully priced. However, we rate the issue as ‘Subscribe’ over a long period of time. long term given its technical expertise, process innovation, constant focus on R&D, positive industry outlook, superior margin profile and healthy return ratios, ”Geojit said.
Clean Science and Technology’s revenue and PAT grew at a CAGR of 14% and 43% during FY19-FY21, supported by increased exports, increased demand for specialty chemicals and better operational performance, the brokerage said, adding that the company enjoys higher EBITDA. margins (51%) and PAT margins (39%) in FY21 thanks to economies of scale, competitive pricing, internal capabilities and adoption of cost optimization techniques.
“The company has a healthy balance sheet with a D / E ratio of 0.1x as of fiscal 21. In addition, the RoE and RoCE performance ratios remain healthy at 38% and 26% (3 year average)” Geojit added.
The clean science and technology IPO was managed by Kotak Mahindra Capital Company Limited, Axis Capital Limited and JM Financial Limited.
The allocation of GR Infra IPO shares should also be finalized tomorrow.
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