Clean Science and Technology makes a stellar debut in stock markets
Clean Science and Technology share price: Shares of Clean Science and Technology made a stellar debut on the stock exchanges today listing over 98 per cent higher than their issue price.
The scrip got listed at Rs 1,784.40 apiece on the BSE, thereby registering a gain of 98.27 per cent from its offer price of Rs 900. On the National Stock Exchange (NSE), it opened at Rs 1,755.00, up 95 per cent from the issue price.
However, the stock failed to hold on to its opening gains and slowly gave up some of its intial momentum and touched an intraday low of Rs 1,555.05 on NSE and BSE so far in the day.
At 10:35 am, the scrip was trading at Rs 1,601.85 on the BSE, up 77.98 per cent from the issue price while on NSE it was at Rs 1,613.05.
Over 89 shares of Clean Science and Technology were traded on the NSE during the first 40 minutes of trade, while over 8.32 lakh shares exchanged hands on the BSE, data from the respective stock exchanges showed.
The Rs 1,546.6 crore IPO of Clean Science and Technology met a robust demand during its offer period from July 7-9. The issue was oversubscribed by a whopping 93.41 times.
The Pune-based company is into the speciality chemical segment. It manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates and FMCG chemicals.