Clean Science, GR Infraprojects IPOs get robust response

Our Bureau | | Updated on: Jul 09, 2021

Clean Science subscribed 93 times; GR Infra over 102x

The initial public offerings of Clean Science and Technology and GR Infraprojects saw a strong response from all category of investors. Clean Science issue got subscribed by 93.41 times, while the latter received bids for 102.58 times, according data available with the NSE.

The Clear Science IPO has received bids for 114.92 crore shares against 1.23 crore on offer, as per NSE data. The category for qualified institutional buyers (QIBs) has been subscribed 156.37 times, non institutional investors, generally known as HNIs, subscribed for 206.43 times. Retail investors portion received bids for 9 times.

Ahead of the IPO, Clean Science had raised ₹464 crore from anchor investors. The company had set a price band of ₹880-900.

The Pune-based company manufactures functionally critical speciality chemicals such as performance chemicals, pharmaceutical intermediates and FMCG chemicals.

GR Infraprojects

The GR Infraprojects IPO, which came out with a price band of ₹828-837, received bids for 83.33 crore shares against 81.23 lakh shares on offer. The category for QIBs was subscribed 168.58 times, HNIs 238.04 times and retail investors by 12.57 times.

Ahead of the issue, the integrated road engineering, procurement and construction company had mobilised about ₹283 crore from anchor investors.

Both the issues are entirely an offer for sale by existing promoters and other shareholders.

Published on July 09, 2021

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