Speciality chemical producer Clean Science and Technology has filed preliminary papers with capital markets regulator Sebi to drift a Rs 1,400 crore-initial public provide (IPO).

The IPO is fully a suggestion on the market (OFS) by present promoters and different shareholders, in keeping with draft crimson herring prospectus.

Those providing shares within the OFS embody Anantroop Financial Advisory Services, Ashok Ramnarayan Boob, Krishnakumar Ramnarayan Boob, Siddhartha Ashok Sikchi, and Parth Ashok Maheshwari.

Clean Science Technology manufactures functionally vital specialty chemical compounds resembling efficiency chemical compounds, pharmaceutical intermediates and FMCG chemical compounds.

Its merchandise are used as key beginning stage supplies, as inhibitors, or as components, by prospects, for merchandise.

The firm is understood for a longtime market place and dominant presence in key specialty chemical merchandise, well-diversified clientele, and utility of the merchandise largely in industries manufacturing necessities which limits affect of COVID-19 pandemic.

The Pune-based firm’s prospects embody producers and distributors in India in addition to different worldwide markets together with China, Europe, the United States of America, Taiwan, Korea, and Japan.

Nearly two-third of the corporate’s revenues comes from exports.

Axis Capital, JM Financial and Kotak Mahindra Capital have been appointed as service provider bankers to IPO. The fairness shares of the corporate will probably be listed on NSE and BSE.

(PTI)


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