The IPO, which went on sale July 7-9 – along with the release of GR Infraprojects – was registered 93.41 times. It received total bids for 1,14,92,30,160 shares compared to 1,23,02,672 shares offered for sale. The quota for qualified institutional buyers (QIBs) is registered 156.37 times, non-institutional investors 206.43 times and the quota for retail individual investors (RII) is 9 times. .
Clean Science and Technology manufactures particularly functionally important chemicals such as performance chemicals, pharmaceutical intermediates and FMCG chemistry. The Pune-based company’s customers include manufacturers and distributors in India as well as other international markets, including China, Europe, the US, Taiwan, South Korea and Japan.
At the issue price, the stock shows a PE transaction value was 48.18x while peers and Fine Organics were traded 73x and 40x respectively.
The analysts note that Clean Science is the only company globally to deploy vapor phase technology to produce Anisole from phenol with better atom economy and only water as waste water compared to the manufacturing process. liquid phase.
Similarly, the company has developed unique processes for the production of several other specialty chemicals, which has led to its prominent position as a cost-competitive producer of critical products. best, they said.
The company’s consolidated revenue grew 14% year-over-year while Ebitda increased 38% annually during the period 19-FY21. Net profit for the same period increased 43% year-on-year, with Ebitda’s margins increasing to 38.7% in FY21 from 24.8% in FY19.
IPOs are managed by Kotak Mahindra Capital Co, Axis Capital and JM Financial.