Specialty chemical company Clean Science and Technology has raised Rs 463.98 crore from 41 anchor investors on July 6, ahead of its IPO opening.
The company informed exchanges that in consultation with merchant bankers, it has finalized allocation of 51,55,404 equity shares, to anchor investors, at a price of Rs 900 per share.
Marquee global investors participated in the anchor book are Government of Singapore, Nomura, BlackRock Global Funds, Aberdeen Global Indian Equity, Goldman Sachs, Neuberger Berman, Abu Dhabi Investment Authority, Theleme India Master Fund, and Pinebridge Global Funds.
Among domestic investors, Axis MF, HDFC Trustee, SBI MF, Aditya Birla Sun Life, ICICI Prudential, Kotak MF, Nippon Life India, and SBI Life Insurance invested in the company via anchor book.
Also read - Clean Science IPO: 10 things to know before subscribing the issue
Clean Science will open its initial public offering of Rs 1,546.62 crore for subscription on July 7, which is complete offer for sale by existing shareholders including promoters Ashok Ramnarayan Boob, Krishnakumar Ramnarayan Boob, Siddhartha Ashok Sikchi and Parth Ashok Maheshwari.
Hence, all the money will go to selling shareholders. The price band for the offer, which will close on July 9, has been fixed at Rs 880-900 per share.
Clean Science and Technology is among the few companies globally focused entirely on developing newer technologies using in-house catalytic processes, which are eco-friendly and cost competitive. This has enabled them to emerge as the largest manufacturer globally of certain specialty chemicals in terms of installed manufacturing capacities.
To Know All IPO Related News, Click Here
The company is the largest manufacturer globally of MEHQ, BHA, Anisole and 4-MAP, in terms of installed manufacturing capacities as of March 2021. It has two certified production facilities in India strategically located at Kurkumbh (Maharashtra), in close proximity to the JNPT port from where the company exports majority of the products.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
