Clean Science and Technology surges on subscribing additional stake in Clean Fino-Chem
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Clean Science and Technology is currently trading at Rs. 1490.00, up by 27.55 points or 1.88% from its previous closing of Rs. 1462.45 on the BSE.
The scrip opened at Rs. 1477.95 and has touched a high and low of Rs. 1492.45 and Rs. 1469.90 respectively. So far 1159 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1978.90 on 15-Sep-2022 and a 52 week low of Rs. 1227.45 on 31-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1533.00 and Rs. 1420.45 respectively. The current market cap of the company is Rs. 15724.09 crore.
The promoters holding in the company stood at 74.99%, while Institutions and Non-Institutions held 12.25% and 12.77% respectively.
Clean Science and Technology has subscribed to the additional 11,70,572 equity shares of face value of Rs 10 each at a premium of Rs 588 for cash, aggregating to Rs 70 crore by way of subscription to the rights issue of Clean Fino-Chem (CFCL), a wholly owned subsidiary of the Company. The said shares shall rank pari passu with the existing equity shares.
CFCL is in process of setting up manufacturing facility for its speciality chemical business. The additional capital will be used for funding its green field projects.
Clean Science and Technology is among the leading companies in India to have commercialized use of environment-friendly processes to manufacture certain specialty chemicals, at global capacities.
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