Clean Science and Technology, GR Infraprojects shares to be listed today, GMP indicates strong debut

Clean Science and Technology, GR Infraprojects shares to be listed today, GMP indicates strong debut

Follow us on Image Source : GRINFRA.COM/CLEANSCIENCE.CO.IN (EDITED) Clean Science and Technology, GR Infraprojects shares to be listed today, GMP indicates strong debut

Clean Science, GR Infra Listing, Grey Market Premium (GMP): The shares Clean Science and Technology and GR Infraprojects Limited will be listed on the stock exchange today. The equity shares of the two companies will be listed on NSE and BSE at 10 am.

Clean Science is a specialty chemical manufacturer. Its Rs 1,546.62-crore initial public offering (IPO) was entirely an offer for sale (OFS) by existing promoters and other shareholders. Its IPO, a lot comprising 16 equity shares, was subscribed 93.41 times. The company had earlier raised Rs 464 crore from anchor investors.

In the grey market, the premium hints at a strong listing of the company’s shares. The GMP of Clean Science is very strong premium, trading at Rs 615-25 over the issue price of Rs 900 per equity share.

Clean Science and Technology manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates, and FMCG chemicals. The Pune-based company’s customers include manufacturers and distributors in India as well as other international markets, including China, Europe, the US, Taiwan, Korea, and Japan.

GR Infraprojects is a Udaipur-based leading integrated road engineering, procurement, and construction (EPC) company with experience in the design and construction of various road and highway projects across 15 states in India. It has recently diversified into projects in the railway sector.

The allotment of its Rs 963-crore initial public offer (IPO) was finalized last week at Rs 837 per share. The IPO was subscribed a whopping 102.58 times. Earlier, GR Infraprojects mobilised a little over Rs 283 crore from anchor investors.

The grey market premium indicates a strong listing today. In the grey market, GR Infraprojects shares were quoting at a premium of Rs 540 over the issue price.

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Clean Science IPO shares to list today, here’s what to expect

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Specialty chemical company Clean Science & Technology is set to list its equity shares on the bourses on July 19. Experts largely expect the company to start the day with stellar returns of around 60 percent over their issue price, citing attractive valuations and strong financials. Even the grey market premium showed similar returns.

Apart from financials and valuations, the company’s monopoly in many of its products, fundamentals and international presence warrant the listing premium, say experts.

In the grey market, the equity share was available at Rs 1,480-1,520, a massive premium of Rs 580-620 or 64.4-68.9 percent over the final issue price of Rs 900, the IPO Watch and IPO Central data showed.

Since the closing of the issue, the grey market price of the stock has seen a significant upside, taking it to Rs 1,520 levels.

“Considering healthy investor’s response to Clean Science IPO, we believe it would list around Rs 1,400 levels, which translates to 56 percent premium over the upper end of the IPO price Rs 900,” Prashanth Tapse, VP Research at Mehta Equities told Moneycontrol.

According to Gaurav Garg, Head of Research at CapitalVia Global Research, and Astha Jain, Senior Research Analyst at Hem Securities, Clean Science might see handsome listing gains of more than 60 percent from the issue price.

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Clean Science is among the few companies globally that focuses entirely on developing newer technologies using in-house catalytic processes, which are eco-friendly and cost competitive. This has enabled them to emerge as the largest manufacturer of certain specialty chemicals in terms of manufacturing capacities.

The company manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates which are also widely used in anti-retroviral drugs, and FMCG chemicals.

Clean Science raised Rs 1,546.62 crore through its public issue at Rs 900 per equity share. The offer saw strong subscription of 93.41 times during July 7-9.

As the issue was a complete offer for sale, the proceeds from the offer will go to selling shareholders.

The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Clean Science IPO share allotment finalised: Check application status here

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The IPO share allotment of specialty chemical company Clean Science and Technology has been finalised. The application status can be checked by investors via two options.

The first option is IPO registrar website, wherein investors have to first select either PAN, Application Number or DP Client ID. Select company name (Clean Science and Technology Limited - IPO) and accordingly enter either PAN Number, Application Number or DP Client ID, and then click on Search button to know whether shares allotted or not by the company.

Alternatively, the allotment can also be checked on BSE website. One has to select first Equity and Issue Name (Clean Science and Technology Limited), and then enter Application Number and PAN Number, and finally click on the Search button to know the application status.

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If the abovementioned information provided by an investor is correct, then the number of shares subscribed for and the number of shares alloted to will be appeared on the screen.

With the finalisation of basis of allotment, the funds will be refunded to ineligible investors on July 15, while the equity shares will be credited to the demat accounts of eligible investors by July 16.

And finally investors and traders can start trading in Clean Science shares with effect from July 19.

Currently Clean Science shares traded at a premium of Rs 520-550 i.e. 57.8-61.1 percent over the expected final issue price of Rs 900, the IPO Watch and IPO Central data showed.

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The grey market is an unofficial platform. The trading in IPO shares in the grey market starts at the time of price band announcement till the listing of equity shares on the bourses.

The specialty chemical company successfully raised Rs 1,546.62 crore through public offer which had seen a stellar subscription of 93.41 times during July 7-9.