Clean Science, GR Infra shares have a bumper listing on NSE1 min read . Updated: 19 Jul 2021, 10:39 AM IST
- Clean Science, GR Infra IPOs were oversubscribed as investors bid heavily for the shares of the companies
Making a strong debut on the stock exchanges as expected, shares of GR Infraprojects listed at a premium of 105% at ₹1,715 per share on the National Stock Exchange (NSE) as compared to issue price of ₹837 per share. Separately, Clean Science shares were trading higher at ₹1,606 per share, nearly 100% premium on the NSE as against to the issue price of ₹900.
The initial public offerings (IPO) of both the companies were oversubscribed during the three-day issue which had opened on July 7 and closed on July 9. The specialty chemical manufacturer Clean Science was subscribed over 93 times. The retail segment was subscribed 9 times while Qualified Institutional Buyers (QIBs) 156.37 times and non-institutional investors 206.43 times. It had set price band of ₹880-900 apiece.
The company manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates and FMCG chemicals. The company has multiple manufacturing facilities in Kurkumbh, MIDC Maharashtra that are automated to maintain high levels of accuracy and efficiency.
Infrastructure developer GR Infraprojects Ltd's IPO was oversubscribed 102.5, as investors across categories bid heavily for the shares of the company. In the GR Infra IPO, the portion reserved for retail investors was subscribed 12.57 times. The qualified institutional buyer category was subscribed 168.58 times and the non-institutional investor category was subscribed 238.04 times. The company had fixed a price band of ₹828-837 a share for its offering.
Udaipur-based GR Infra is a leading integrated road engineering, procurement and construction (EPC) company with experience in design and construction of various road and highway projects across 15 states in India. It has recently diversified into projects in the railway sector.
Many brokerages had recommended subscribe to the issues, citing long-term growth potential of the companies and possibility of listing gains.
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