Clean Science and Technology Limited IPO Details

Dates, Price band, Lot size, Risks, Review and broker recommendations etc.
clean science IPO

Clean Science IPO: Key Details

  • Grey Market Premium (GMP) today: ₹450 – ₹480

Note: We neither trade nor encourage our readers to trade in the Grey Market. We share the GMP information for educational purposes only, so that, you can make an informed decision.

Company Information

Clean Science and Technology Limited, incorporated in 2003, is among the few companies globally focused 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 globally of certain specialty chemicals in terms of installed manufacturing capacities as of March 31, 2021. Some of these technologies have been developed and commercialized for the first time globally.

tHEY manufacture functionally critical specialty chemicals such as Performance Chemicals (, Pharmaceutical Intermediates, and FMCG Chemicals. Within 17 years of incorporation, they have grown to be the largest manufacturer globally of MEHQ, BHA, Anisole, and 4-MAP, in terms of installed manufacturing capacities as of March 31, 2021.

Competitive Strengths

  • Track record of strategic process innovation through consistent R&D initiatives
  • Among the largest producers globally of functionally critical specialty chemicals used across various industries and geographies resulting in a de-risked business model
  • Experienced Promoters and senior management with extensive domain knowledge
  • Strong and long-standing relationships with key customers
  • Automated manufacturing facilities with proven design and commercialization capabilities and strong focus on EHS
  • Strong and consistent financial performance in the last three Fiscals

Company Strategy

  • Leverage leadership position in the specialty chemicals industry to capitalize on industry opportunities
  • Leverage R&D capabilities and understanding of catalysis to continue process re-engineering, further enhancing product portfolio
  • Expand manufacturing capacities of existing products and set up additional capacities for new products
  • Continue to strengthen presence in India and expand sales and distribution network in international markets

Proceeds from Clean Science IPO will be used to:

The Company will not receive any proceeds from the Offer (the “Offer Proceeds”) and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.

Clean Science IPO: Financials

201920202020
Revenue from Ops₹393.27 Cr₹419.30 Cr₹512.43 Cr
Profit before Excep*₹136.54 Cr₹182.32 Cr₹267.30 Cr
Profit after Tax97.66 Cr₹139.63 Cr₹198.38 Cr
EPS (Basic)9.1913.1518.68
*Tax and Exceptional Items
As of March 2020EPS (Avg*)P/E (Floor)P/E (Cap)
Based on basic EPS15.2657.6758.98
* Weighted Average for last 3 years

Comparison with listed industry peers

CompanyP/E (Cap)
Clean Science33.59
Highest (Fine Organic)75.93
Lowest (SRF)34.37
Sector Avg55.38

Clean Science IPO Dashboard

Issue Details

TypeValue
Issue Size₹1,546.62 Cr
Offer for Sale₹1,546.62 Cr
Face Value₹1/- per Equity Share
IPO Price₹880 – ₹900
Lot Size16 shares
LotsMin 1 – Max 13

Key Dates

Date TypeDate
Bid Open7/07/2021
Bid Close9/07/2021
Allotment Finalization14/07/2021
Initiation of Refunds15/07/2021
Credit of Shares16/07/2021
Listing Date19/07/2021

Lot Size and Price

LotsSharesAmount
116₹14,400
13208₹1,87,200

Promoter Holding

HoldingPercentage
Pre-Issue94.6 %
Post-Issue78.5 %

Clean Science IPO: Investor Quota and Shares Offered

Investor TypeQuotaShares on Offer
QIB50%35,15,049 shares
NII15%26,36,287 shares
RII (Retail)35%61,51,336 shares
Total100%1,23,02,672 shares

Clean Science IPO: Risks

  • Dependent on R&D capabilities and an inability to continue to design catalytic processes
    may adversely affect business
  • None of the catalytic processes are patented and intellectual property may not be adequately protected
  • There have been certain instances of non-compliances and errors with respect to certain corporate actions and regulatory filings undertaken by the Company in the past.
  • A significant portion of the revenue is generated from certain key customers
  • They have certain capital commitments (₹10.4 Cr) that have not been provided for in financial statements, which if they materialize, may adversely affect the financial condition.

For complete internal and external risk factors, you can refer to the RHP of the company.

Clean Science IPO: Registrar and Lead Managers

Registrar of the Issue

Link Intime
C-101, 247 Park
L B S Marg, Vikhroli (West)
Mumbai 400 083
Maharashtra, India

Phone: 022 4918 6200
Email: [email protected]

Lead Managers of the Issue

JM Financial Limited
Axis Capital Limited
Kotak Mahindra Capital Company Limited

Phone: +91-22-4325 2183 / +91-22-2288 2460
Email: [email protected]

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