Mumbai: Primary market momentum continued with Clean Science and Technology and GR Infraprojects Initial Public Offerings (IPOs), which were closed for subscription on Friday, reflecting strong investor appetite.

Clean Science’s 1,546 crore show was subscribed 96 times while GR Infra’s 963 crore offer received bids 105 times the size of the show. Bankers said strong investor demand for the issues bodes well for the 9,375 crore IPO of online food delivery and restaurant discovery platform Zomato, the largest in nearly four years. years, scheduled for next week.

Clean Science’s offering received bids for 114.92 crore shares against an IPO size of 1.21 crore shares, raising more than 1.04 lakh crore.

The portion reserved for non-institutional investors or high net worth individuals (HNI) was subscribed 211.12 times while the category of individual investors was subscribed 9.2 times. The share of qualified institutional buyers received offers for 159.93 times the shares set aside for the category.

The specialty chemicals maker’s IPO was entirely a sale of shares by existing shareholders, including promoters. Its price was in the range of 880 to 900 yen per share.

GR Infraprojects secured offers for 83.33 crore shares against the IPO size of 81.24 lakh shares. The portion reserved for qualified institutional investors was subscribed 169 times, while the category of non-institutional investors received offers for 238 times the shares reserved for them. Retail investors made offers for 12.57 times the shares reserved for them.

Like Clean Science, GR Infra’s IPO involved sales of shares by existing promoters and shareholders. The engineering, procurement and road construction company sold shares in the price range of 828 to 837 per share

Since January, 25 companies have raised 30,727 crore through IPOs, compared to 26,612 crore raised by 15 companies in 2020 or 12,363 crore was raised by 16 companies in 2019.


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