Two companies are set to hit the Indian market with their initial public offerings (IPOs) this week with the aim to raise over 2,500 crore cumulatively. Specialty chemical company Clean Science and Technology and construction firm GR Infraprojects IPOs are scheduled to open for subscription on Wednesday i.e., July 7 and close on Friday i.e., July 9.IPOs this week –
GR Infraprojects: GR Infraprojects’ initial public offering (IPO) will open for subscription on 7 July, Wednesday. The company has fixed a price band of 828-837 a share for its offering. The public issue comprises an offer for sale (OFS) of up to 11.5 million shares by promoters and shareholders.
The Udaipur-based firm is a leading integrated road engineering, procurement and construction (EPC) company with experience in design and construction of various road and highway projects across 15 states in India. It has recently diversified into projects in the railway sector.
Clean Science and Technology: The three-day IPO issue opens on July 7 and closes on July 9 and The initial public offering of Clean Science and Technology Ltd has a set price band of 880-900 apiece.
The company manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates and FMCG chemicals. The company has multiple manufacturing facilities in Kurkumbh, MIDC Maharashtra that are automated to maintain high levels of accuracy and efficiency.
The Pune-based company’s customers include manufacturers and distributors in India as well as other international markets including China, Europe, the United States of America, Taiwan, Korea, and Japan.
After five companies that launched their offerings in the previous month and raised 9,923 crore through public issues, July is set to be the busiest month in terms of IPOs as many as eleven companies are expected to launch their issues with the aim to raise around 24,000 crore.
So far this year, 22 firms have come out with their IPOs to raise 27,426 crore. Apart from this, companies including Utkarsh Small Finance Bank and Glenmark Life Sciences, Rolex Rings and Seven Islands Shipping have received Sebi’s go ahead to float the IPO.
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