Clean Science and Technology get Sebi nod IPO
Pune-based specialty chemicals Company Clean Science and Technology has received markets regulator Sebi’s to raise funds through initial public offers (IPOs).
The company had filed their preliminary papers with Securities and Exchange Board of India (Sebi) in April.
Specialty chemical manufacturer Clean Science and Technology plans to raise Rs 1,546 Crore through its initial share sale.
The IPO is entirely an offer for sale (OFS) by existing promoters and other shareholders, according to draft red herring prospectus.
Promoters offering shares in the OFS includes Ashok Ramnarayan Boob, Krishnakumar Ramnarayan Boob, Siddhartha Ashok Sikchi and Parth Ashok Maheshwari.
Clean Science Technology manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates and FMCG chemicals.
Its products are used as key starting level materials, as inhibitors, or as additives, by customers, for products.
The equity shares of Clean Science and Technology Ltd are proposed to be listed on BSE and NSE.