The Rise of Reliance: as told through its stocks
Reliance Industries Limited (RIL) is India’s largest publicly traded company. Read on to know more about history of Reliance stocks and it’s rise in …
23 Aug, 2021
6 min read
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This article seeks to shed light on initial public offerings (or IPOs) that have recently been up for grabs in the market. Included among them are Clean Science and Technology Ltd. as well as GR Infraprojects.
Fast Facts
Clean Science and Technology’s IPO
The initial public offers pertaining to Clean Science and Technology Ltd. were well received on the first day of subscription. This was owed to the demand they commanded via retail investors.
Having closed the offer on July 9, this IPO was made up of offers for sale by the company’s promoters who included Ashok Ramnaryan Boob, Krishnakumar Ramnarayan Boob. Siddhartha Ashok Sikchi and Parth Ashok Maheshwari.
Clean Science and Technology Ltd.’s share prices amounted from INR 880 to INR 900 with an aim to raise INR 1,546.62 Crores.
The proceeds derived via the offer are set to be disbursed among the shareholders who sought to sell their shares along with the aforementioned promoters.
The company accounted for INR 192 Crores as a part of its net cash derived via its operating activities as of March 31 this year.
Owing to the fact that this company falls under the bracket of essential goods even if a lockdown is imposed in the future it is unlikely to affect it very grievously.
As of July 7th the company saw its IPO subscribed to 1.74 times as of 5 pm with institutional investors amounting to 0.01, non-institutional investors subscribing 2.19 times, and retail investors subscribing 2.54 times.
GR Infraprojects IPO
The initial public offers pertaining to GR Infraprojects IPO were also well received on the first day of subscription (i.e., July 7). This was owed to the demand they commanded via retail investors.
Having closed the offer on July 9, this IPO was made up of offers for sale amounting to 1.15 Crore shares brought forth by the promoters and private equity section of the Motilal Oswal group.
Prior to the IPO being launched, GR Infraprojects managed to raise INR 283.20 Crores via the support of 22 anchor investors.
As of July 7th, the GR Infra IPO saw itself subscribed to 2.34 times as of 5 pm the same day. Institutional investors subscribed to the infrastructure company 0.49 times whereas non-institutional investors subscribed to the same 2.68 times. Retail investors subscribed to the road and highways developer 3.25 times.
Owing to its low debt and sizable assets GR Infraprojects is well-positioned to meet its fund requirements.
Once their shares were listed in the secondary market, they were listed with a 103 percent premium as of July 19 and were well received.
The stock price first began to trade at INR 1700 which amounts to a spike of INR 863 when set against the issue price of INR 837 on the Bombay Stock Exchange.
GR Infraprojects has enjoyed immense success in the past 20 years especially in terms of road construction.
As of March 31, this year its order book amounted to approximately INR 19000 with a book to bill ratio amounting to 2.6 times its financial year 2021’s revenue.
The company presently has 14 road projects falling under the hybrid annuity model along with a sole operational build-operate-transfer project as of March this year. It has also bid for projects in metros and those associated with high-speed rails as it seeks to diversify its offerings.
Conclusion
Those seeking to take advantage of other upcoming IPOs such as these must do ample research on the company, understand how they plan to spend the funds they raise and their performance in the past.
FAQs
Q1. What is an IPO?
A1. An IPO is an initial public offering wherein a private corporation offers shares to the public in the form of new issuance. This issuance of shares allows the company to raise capital and for public investors to now partake in the offering. IN the process the company becomes public.
Q2. What does Clean Science and Technology do?
A2. Clean Science and Technology is one of the world’s leading producers of specialty chemicals including MEHQ and BHA and is recognized as a chemical manufacturer. What makes it stand out is that it is eco-friendly.
Q3. Who were the promoters of the Clean Science and Technology IPO?
A4. Ashok Ramnaryan Boob, Krishnakumar Ramnarayan Boob. Siddhartha Ashok Sikchi and Parth Ashok Maheshwari were the promoters of the Clean Science and Technology IPO.
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