Sparkling Science and Technology to open IPO on July 7; sets price band at Rs 880-890/share

By: PTI | Fresh Delhi |



Updated: July 2, 2021 3: 56: 23 pm





clean science and technology ipoSparkling Science Technology manufactures functionally fundamental strong level chemicals such as performance chemicals, pharmaceutical intermediates and FMCG chemicals. (Representative describe: Pixabay)

Speciality chemical manufacturer Sparkling Science and Technology on Friday acknowledged it has mounted a price band of Rs 880-890 a share for its over Rs 1,546 crore-preliminary public offer.

The three-day preliminary public offer (IPO) will birth on July 7 and attain on July 9.The bidding for anchor investors will birth on July 6, the firm announced in a virtual press conference.

The Rs 1,546.62 crore-IPO is entirely an offer in the marketplace (OFS) by existing promoters and a quantity of shareholders.

Those offering shares in the OFS consist of Anantroop Monetary Advisory Providers, Ashok Ramnarayan Boob; Krishnakumar Ramnarayan Boob; Siddhartha Ashok Sikchi; and Parth Ashok Maheshwari.

Half of of the downside size has been reserved for certified institutional traders, as a lot as 35 per cent for retail investors, and the final 15 per cent for non-institutional traders.

Sparkling Science Technology manufactures functionally fundamental strong level chemicals such as performance chemicals, pharmaceutical intermediates and FMCG chemicals.

Its products are ragged as key starting up stage materials, as inhibitors, or as components, by customers, for products.

Sparkling Science and Technology is identified for an established market predicament and dominant presence in key strong level chemical products, neatly-diversified clientele, and application of the products largely in industries manufacturing essentials which limits influence of COVID-19 pandemic.

The firm has a pair of manufacturing products and companies in Kurkumbh, MIDC Maharashtra which would be automated to withhold excessive ranges of accuracy and efficiency.

The Pune-based firm’s customers consist of producers and distributors in India as neatly as a quantity of global markets in conjunction with China, Europe, the US, Taiwan, Korea, and Japan.

Virtually two-third of the firm’s revenues attain from exports.

Axis Capital, JM Monetary and Kotak Mahindra Capital delight in been appointed as merchant bankers to the downside. The fairness shares of the firm will probably be listed on NSE and BSE.

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