According to a term sheet, the promoters and related entities are expected to sell a combined 2.55 crore shares in the transaction. The deal will be executed on exchanges on Thursday at a floor price of Rs 1,030 per share, representing a 12.8% discount to Wednesday’s closing price of Rs 1,180.8.
JPMorgan India will act as the broker for the transaction.
As of June 30, the promoter group held a 74.97% stake in Clean Science. Following the proposed sale, their holding is expected to reduce significantly, although the exact post-transaction shareholding has not been disclosed.
Clean Science & Technology share price history
Over the past year, Clean Science & Technology shares have declined 24.46%, while year-to-date (YTD) performance shows a drop of 23.36%. In the last six months, the stock has fallen 9.52%, over the past three months it has slipped 6.75%, and in the last one month alone, it has dropped 10.53%.
About Clean Science & Technology
Incorporated in 2003, Clean Science and Technology is one of the leading chemical manufacturers globally. The company produces functionally critical specialty chemicals, including Performance Chemicals (MEHQ, BHA, AP), Pharmaceutical Intermediates (Guaiacol, DCC), and FMCG Chemicals (4-MAP, Anisole).Also read: Is Rs 4 crore enough for retirement corpus? Gurmeet Chadha gives simple calculation metric
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