Clear Science and Expertise’s share sale by way of preliminary public providing (IPO) started right this moment, July 7, 2020. The corporate is promoting its shares within the worth band of Rs 880-900 and plans to lift Rs 1,546 crore from the difficulty. The three-day share sale which started right this moment will finish on July 9 and buyers can bid for Clear Science shares in lot sizes of 16 shares and in multiples thereafter. The problem is solely a suggestion on the market whereby some current buyers are promoting their stake by way of IPO.
Clear Science and Expertise is among the many few firms globally centered completely on growing newer applied sciences utilizing in-house catalytic processes, that are eco-friendly and value aggressive. This has enabled the corporate to emerge as the most important producer globally of sure specialty chemical substances by way of put in manufacturing capacities
The corporate manufacture functionally crucial specialty chemical substances similar to Efficiency Chemical substances (ie MEHQ, BHA and AP), Pharmaceutical Intermediates (ie Guaiacol and DCC), and FMCG Chemical substances (ie 4-MAP and Anisole). Inside 17 years of incorporation, the corporate has grown to be the most important producer globally of MEHQ, BHA, Anisole and 4-MAP, by way of put in manufacturing capacities as of March 31, 2021, Clear Science mentioned in its pink herring prospectus.
Brokerage agency Anand Rathi has a ‘subscribe’ ranking for Clear Science and Expertise’s IPO. “The company possesses a healthy balance sheet and robust return ratio profile. We recommend a ‘subscribe’ rating to this IPO,” Anand Rathi mentioned in a observe. .
“At the upper end of the IPO price band, the company is being offered at 48.2 times its FY21 earnings, with a market cap of Rs 9,559.7 crore. In comparison, Vinati Organics trades at 77.4 times its FY2021 earnings per share (EPS) of Rs 26.2, Fine Organics Industries trades at 75 times its FY2021 EPS, Atul trades at 42.2 times its FY2021 EPS of Rs 221.6, SRF trades at 37 times its FY2021 EPS of Rs 202.2, Navin Fluorine International trades at 76.1 times its FY2021 EPS of Rs 49.9 and PI Industries trades at 62.2 times its FY2021 EPS of Rs 48.7. Further on FY21 earnings basis the company is trading below the industry average of 55.4 times,” Anand Rathi added.