In the unofficial market for trading unlisted shares, Clean Science shares are trading with a premium of Rs 438-443 per share, said Dinesh Gupta, Founder of UnlistedZone, a dealer of unlisted shares. This translates into a 49 per cent premium over the price band.
The promoters and shareholders of Clean Science plan to raise Rs 1,546 crore from the primary market via offer for sale. The company will not get any proceeds from the share sale. Of the total shares on offer, 50 per cent shall be available for allocation on a proportionate basis to qualified institutional buyers (QIBs). Further, not less than 15 per cent of the offer shall be available for non-institutional bidders and the rest for retail investors.
Investors can bid for a lot of 16 shares and in multiples thereof. Retail investors can bid for a maximum of 14 lots. Anchor allotment will be announced on July 6, the company said.
Axis Capital, JM Financials and Kotak Mahindra Capital are the book running lead managers to the issue. Link Intime India is the registrar to the issue.
Clean Science and Technology was incorporated in 2003 as a family-owned business enterprise. It works on developing eco-friendly and sustainable manufacturing processes of specialty and fine chemicals, and exports to many countries across the world. “With the primary aim of devising novel and clean processes for its products, we work extensively in developing better catalyst systems that are selective and cost-effective,” the company claims.
