Clean Science & Technology IPO
Clean Science & Technology IPO — date, price band, lot size & details 2021
Clean Science & Technology listed on 19 Jul 2021 at ₹1,755, 95% above the ₹900 issue price.
Clean Science and Technology makes functionally critical specialty chemicals for performance, pharmaceutical and FMCG uses, and exports most of its output. Its total income was Rs 538.07 crore in FY2021.
Stock price
Clean Science & Technology is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 07 Jul 2021
- Close 09 Jul 2021
- Allotment 14 Jul 2021
- Refund/credit 15 Jul 2021
- Listing 19 Jul 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 7 to 9 Jul, 2021 |
|---|---|
| Price Band | ₹880 – ₹900 |
| Face Value | ₹1 |
| Lot Size | 16 Shares |
| Issue Size | ₹1546.62 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,400 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 16 shares at the ₹900 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 16 | ₹14,400 |
| Retail (max) | 13 | 208 | ₹1,87,200 |
| S-HNI (min) | 14 | 224 | ₹2,01,600 |
| S-HNI (max) | 69 | 1,104 | ₹9,93,600 |
| B-HNI (min) | 70 | 1,120 | ₹10,08,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 6
- 01Total income rose from Rs 404.56 crore in FY2019 to Rs 538.07 crore in FY2021.
- 02Profit after tax rose from Rs 97.66 crore in FY2019 to Rs 198.38 crore in FY2021.
- 03EBITDA rose from Rs 147.60 crore in FY2019 to Rs 284.60 crore in FY2021.
- 04The company was almost debt free, with borrowing of Rs 0.33 crore on 31 March 2021.
- 05Net worth grew from Rs 272.06 crore on 31 March 2019 to Rs 539.67 crore on 31 March 2021.
- 06Exports gave 69% of revenue in fiscal 2020, to customers across Asia, Europe and the USA.
Risks · 5
- 01The whole Rs 1,546.62 crore issue was offer for sale, so no money went to the company.
- 02The P/E was 48.18 at the upper band of Rs 900, based on EPS of Rs 18.68.
- 03Both plants are at Kurkumbh in Maharashtra, with capacity of 29,900 MTPA, so a local disruption could hit output.
- 04A small number of products drive revenue, and exports of 69% add currency risk.
- 05Promoters and the promoter group held 94.65% before the issue and 78.51% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Clean Science & Technology offer document.
| Metric | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|
| Assets | 659.92 | 429.88 | 327.47 |
| Total Income | 538.07 | 430.17 | 404.56 |
| Profit After Tax | 198.38 | 139.63 | 97.66 |
| EBITDA | 284.60 | 196.15 | 147.60 |
| NET Worth | 539.67 | 342.10 | 272.06 |
| Reserves and Surplus | 529.05 | 340.77 | 270.64 |
| Total Borrowing | 0.33 | 2.69 | 2.60 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Clean Science & Technology RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Clean Science & Technology IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹18.68 | ₹18.68 |
| P/E Ratio (x) | 48.18 | 48.18 |
| Market Cap at Offer Price (₹ Cr) | ₹9,557.92 | ₹9,557.92 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹900 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Clean Science & Technology IPO will be updated shortly.
About the company
Its products are performance chemicals such as MEHQ, BHA and AP, pharmaceutical intermediates such as Guaiacol and DCC, and FMCG chemicals such as 4-MAP and Anisole.
It supplies makers and distributors in India and abroad, including China, Europe, the USA, Korea, Taiwan and Japan, and exports gave 69% of revenue in fiscal 2020. Customers include Bayer AG, SRF and Vinati Organics. Its two plants at Kurkumbh in Maharashtra had an installed capacity of 29,900 MTPA on 31 December 2020.
The IPO was Rs 1,546.62 crore and was entirely an offer for sale by existing shareholders, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Clean Science & Technology IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
74 issues handledBest listing: Tempsens Instruments (India) (+111.3%). Weakest: Turtlemint Fintech Solutions (-10.4%).
Axis Capital
71 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
49 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Rategain Travel Technologies (-15.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Clean Science & Technology?
The current Grey Market Premium is ₹580, or 64% over the issue price.
What is the Clean Science & Technology IPO price band?
₹880 to ₹900, on a face value of ₹1.
When is the allotment?
The basis of allotment is 14 July 2021, with listing on 19 July 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
