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Clean Science and Technology Ltd IPO Detail

Clean Science and Technology Ltd IPO Detail

Incorporated in 2003, Clean Science and Technology Ltd is one of the leading chemical manufacturers globally. It manufactures functionally critical specialty chemicals such as Performance Chemicals (MEHQ, BHA, and AP), Pharmaceutical Intermediates (Guaiacol and DCC), and FMCG Chemicals (4-MAP and Anisole).

The company supplies its products to manufacturers and distributors in India as well as overseas markets i.e. China, Europe, USA, Korea, Taiwan, and Japan. Bayer AG, Genex Laboratories Limited, Nutriad International NV, SRF Limited, Vinati Organics are a few of its customers. In fiscal 2020, it generated 69% of revenues through export outside India.

Clean Science has two production facilities at Kurkumbh (Maharashtra) with an aggregated installed production capacity of 29,900 MTPA as of Dec 31, 2020.

Competitive Strengths

  • Globally leading supplier of certain chemicals; Ansole, 4-MAP, MEHQ, BHA, DCC, etc.
  • Strategically located manufacturing facility with close proximity to JNPT port to export products.
  • Strong long-term relationship with key customers.
  • Consistent track record of financial performance.
  • International presence with export to several countries i.e. China, USA, Korea, Japan, Taiwan, etc.

Company Promoters

Ashok Ramnarayan Boob, Krishnakumar Ramnarayan Boob, Siddhartha Ashok Sikchi, and Parth Ashok Maheshwari are the company promoters.

IPO Details

IPO Opening DateJul 07, 2021
IPO Closing DateJul 09, 2021
Issue TypeBook Built Issue IPO
Face Value₹1 per equity share
IPO Price ₹880 - 900 per equity share
Market Lot16 Shares
Min Order Quantity16 Shares
Listing AtBSE, NSE
Issue Size₹1,546.62 Cr
Fresh Issue-
Offer for Sale[.] Eq Shares of ₹1 (aggregating up to ₹1,546.62 Cr)
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 0.00x 1.94x 2.09x - 1.46x
Day 2 2.10x 4.05x 5.31x - 4.12x
Day 3 156.37x 206.43x 9.00x - 93.41x

IPO Tentative Timetable

The Clean Science and Technology Ltd IPO open date is Jul 07, 2021, and the close date is Jul 09, 2021. The issue may list on Jul 19, 2021.

IPO Open DateJul 07, 2021
IPO Close DateJul 09, 2021
Basis of Allotment DateJul 14, 2021
Initiation of RefundsJul 15, 2021
Credit of Shares to Demat AccountJul 16, 2021
IPO Listing DateJul 19, 2021

IPO Lot Size

The Clean Science and Technology Ltd IPO market lot size is 16 shares. A retail-individual investor can apply for up to 13 lots (208 shares or ₹187200).

ApplicationLotsSharesAmount (Cut-off)

Company Financials:

For the year/period ended (₹ in Crs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 659.9 538.71 198.38
31-Mar-20 429.87 430.16 139.63
31-Mar-19 327.47 404.56 97.65

Objects of the Issue:

  • To make an offer for sale of equity shares aggregating to Rs. 1,5466.22 million.
  • To achieve the share listing benefits on the BSE and NSE.