Specialty chemical company Clean Science and Technology has raised Rs 1,546 crore. The initial public offering (IPO) is priced at Rs 880 to Rs 890 per share. The company’s IPO will open on July 7 and close on July 9. Anchor investors will be able to bid for the shares on July 6, the company said in a virtual press conference on Friday.
The company’s entire IPO is Rs 1,546.62 crore. Offer for Sale (OFS) on behalf of existing promoters and shareholders. Anantroop Financial Advisory Services, Ashok Ramnarayan Boob, Krishnakumar Ramnarayan Boob, Siddharth Ashok Sichchi and Partha Ashok Mahaswari will issue shares under OFS.
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Half of the distribution will be reserved for eligible corporate buyers (QIBs). 35 percent will be reserved for retail investors and 15 percent for non-institutional buyers. Clean Science Technology manufactures critical specialty chemicals such as performance chemicals, cecal intermediates and FMCG chemicals. The Pune-based company’s customers include manufacturers and distributors in India, China, Europe, the US, Taiwan, South Korea and Japan. Two-thirds of the company’s revenues come from exports.