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Two IPOs to hit market next week; to raise over Rs 2,500 cr cumulatively

Two companies Clean Science and Technology and GR Infraprojects are headed to the market with their initial share-sale offers next week to raise a little over Rs 2,500 crore cumulatively. The companies are expecting to benefit from an equity market, which is swarmed with liquidity and a sharp increase in the number of new retail investors. This comes after five companies Shyam Metalics and Energy, Sona BLW Precision Forgings (Sona Comstar), Krishna Institute of Medical Sciences, Dodla Dairy and Indian Pesticides launched their initial public offers (IPOs) last month. These firms collectively raised Rs 9,923 crore through public issues. The three-day IPOs of Clean Science and Technology and GR Infraprojects will open for public subscription on July 7 and conclude on July 9. The bidding for anchor investors will open on July 6, data with exchanges showed.

ipo: Two IPOs to hit market next week; to raise over Rs 2,500 cr cumulatively

The two firms will together garner a total of Rs 2,510 crore through IPOs. Shares of the companies will be listed on the BSE and the NSE. Clean Science and Technology s Rs 1,546.62-crore IPO is entirely an offer for sale (OFS) by existing promoters and other shareholders. Those offering shares in the OFS include Anantroop Financial Advisory Services, Ashok Ramnarayan Boob; Krishnakumar Ramnarayan Boob; Siddhartha Ashok Sikchi; and Parth Ashok Maheshwari. Speciality chemical manufacturer has fixed a price band of Rs 880-900 a share for its IPO. Clean Science Technology manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates and FMCG chemicals.

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