Clean Science And Technology IPO Opens On Wednesday

Clean Science and Technology's Rs 1,546 crore initial public offering (IPO) will open for bidding tomorrow i.e. July 7. The Pune-based specialty chemicals company's IPO will entirely be an offer for sale (OFS) by existing investors and will not involve a fresh issue of shares. The company has fixed the price band of its primary market sale at Rs 880-900 per share. The IPO will close on July 9 and the shares are likely to be listed on July 19.

The promoters who will be offloading stake in the company include Ashok Ramnarayan Boob, Krishnakumar Ramnarayan Boob, Siddhartha Ashok Sikchi and Parth Ashok Maheshwari.

Investors can subscribe to the share offering in multiples of 16 shares, translating to a minimum investment of Rs 14,400 at the higher end of the price band. Out of the 1.71 crore shares on offer, half or 85.92 lakh shares worth Rs 773 crore will be reserved for qualified institutional buyers (QIB), 35 per cent or 60.14 lakh shares amounting to Rs 541 crore will be kept aside for retail investors and 15 per cent of the issue size or 25.77 lakh shares worth Rs 232 crore will be meant for non-institutional investors (NII).

Clean Science and Technology will not receive any funds from the public issue as it is entirely an offer for sale.

Meanwhile, GR Infraprojects IPO will also open tomorrow and it will also be an offer-for-sale. GR Infraprojects is an integrated road engineering, procurement and construction company based in Udaipur.