Clean Science and Technology, a Pune-based producer and exporter of speciality chemical compounds, has filed papers with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 1400 crore by an Initial Public Offering (IPO).

The complete challenge might be by supply on the market (OFS) by present promoters and different shareholders. The firm is not going to obtain any proceeds from the IPO. Clean Science and Technology has filed a draft pink herring prospectus (DRHP) with the SEBI.

The main stakeholders of Clean Science and Technology are Anantroop Financial Advisory Services, Ashok Ramnarayan Boob, Krishnakumar Ramnarayan Boob, Siddhartha Ashok Sikchi, and Parth Ashok Maheshwari.

The fairness shares might be listed each in BSE and NSE. Axis Capital, JM Financial and Kotak Mahindra Capital would be the service provider bankers for the IPO.

Clean Science Technology, included in 2003, manufactures and exports speciality chemical compounds like efficiency chemical compounds, pharmaceutical intermediates and FMCG chemical compounds. The speciality chemical compounds main reported a web revenue of Rs 145.27 crore for the 9 months ending December 2020.

The firm is a significant participant and enjoys a dominant market place within the speciality chemical merchandise sector. The firm’s merchandise are used principally by the producers of important COVID-19 provides.

It is the biggest producer of speciality chemical compounds in India. The firm has its manufacturing services in Kurkumbh Industrial space in Pune.

The firm has a world market presence in nations together with China, Europe, USA, Taiwan, Korea and Japan.

Last month, one other specialty chemical main, Anupam Rasayan’s IPO was subscribed 44 occasions. The firm raised Rs 760-crore by the sale of 97.01 lakh shares in a value band of Rs 553-555 per share.


Leave a Reply

Your email address will not be published. Required fields are marked *