Clean Science shares zoom over 76 pc in debut trade

Shares of speciality chemical manufacturer Clean Science and Technology Ltd zoomed over 76 per cent in debut trade on Monday against its issue price of Rs 900.

The company's stock debuted at Rs 1,784.40, registering a premium of 98.26 per cent from the issue price on the BSE. It trimmed some of the early gains and closed at Rs 1,585.20, a gain of 76.13 per cent.

On the NSE, it listed at Rs 1,755, a jump of 95 per cent and closed at Rs 1,585.25, reflecting an increase of 76.13 per cent.

The company's market valuation was at Rs 16,837.83 crore on the BSE.

In traded volume terms, 10.87 lakh shares of the company were traded at the BSE and over 1.35 crore units at the NSE during the day.

Clean Science and Technology's initial public offer was subscribed 93.41 times earlier this month.

The Rs 1,546.62-crore initial public offering (IPO) was priced in a range of Rs 880-900 per share.

The company manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates, and FMCG chemicals.

The Pune-based company's customers include manufacturers and distributors in India as well as other international markets, including China, Europe, the US, Taiwan, Korea, and Japan.