- •Clean Science and Technology IPO was subscribed nearly 95 times
- •Many brokerages had recommended subscribe to Clean Science, citing long-term growth potential
The share allocation in Clean Science and Technology IPO is probably going to be finalised today. The initial public offer of specialty chemical manufacturers was subscribed a whopping 93.41 times, led by huge demand from qualified institutional Buyers and non-institutional investors. The retail investor segment was subscribed ninefold. Link Intime India Private Ltd is that the registrar of the IPO and once finalized, investors can check share allotment on the Link Intime website.
Investors also can check their Clean Science share allotment status on the BSE website.
According to brokerages, Clean Science and Technology IPO is probably going to urge listed on July 19th.
The ₹1,550-crore Clean Science and Technology IPO was completely a suggestion purchasable (OFS) by existing promoters and other shareholders. before the opening of IPO, Clean Science had raised ₹464 crores from anchor investors. the corporate had fixed a price band of ₹880-900 a share.
The Pune-based company, which was incorporated within the year 2003, maybe a fine and specialty chemical manufacturing company and claims to be the most important manufacturer globally of certain specialty chemicals.
Many brokerages had recommended subscribing to the difficulty, saying that the corporate is well-positioned to maximize opportunities in the specialty chemical sector backed by its process innovation, catalyst development, significant scale of operations & strategic backward integration.
“At the upper price band of Rs.900, Clean Science and Technology is out there at a P/E of 48x (FY21) which appears to be fully priced in. However, we assign a “Subscribe” rating for the difficulty on a long-term basis considering its technical expertise, process innovation, consistent specialise in R&D, positive industry outlook, superior margin profile, and healthy return ratios,” Geojit said.
Revenue and PAT of unpolluted Science and Technology grew at a CAGR of 14% and 43% over FY19-FY21 backed by an increase in exports, rise in demand for specialty chemicals, and better operating performance, the brokerage said, adding that the corporate enjoys superior EBITDA margins (51%) and PAT Margins (39%) in FY21 led by economies of scale, competitive pricing, in-house capabilities, and adoption of cost optimisation techniques.
“The company features a healthy record with D/E ratio of 0.1x as of FY21. Moreover, the return ratios RoE and RoCE remain healthy at 38% and 26% (3-year average),” Geojit added.
Clean Science and Technology IPO was managed by Kotak Mahindra Capital Company Limited, Axis Capital Limited, and JM Financial Limited.
The share allocation in GR Infra IPO is probably going to be also finalised tomorrow.