The Pune-based specialty chemical manufacturer Clean Science and Technology has filed IPO papers with Sebi. The company intends to float a Rs 1,400 crore-initial public offer. The offer is entirely an offer for sale (OFS) by existing promoters and other shareholders. Those offering shares include Anantroop Financial Advisory Services, Ashok Ramnarayan Boob, Krishnakumar Ramnarayan Boob, Siddhartha Ashok Sikchi, and Parth Ashok Maheshwari. The equity shares of the company will be listed on NSE and BSE.
Clean Science Technology has customers in India as well as other international markets including the United States of America, Europe, China, Taiwan, Korea, and Japan. Nearly two-thirds of the company’s revenues come from exports.
The company manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates, and FMCG chemicals and its products are used as key starting level materials, as inhibitors, or as additives, by customers, for products.