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<keyword id="22976106" type="General" weightage="20" keywordseo="indoor" source="keywords">Indoor</keyword> <keyword id="19900550" type="General" weightage="100" keywordseo="air-pollution" source="keywords">air pollution</keyword> is a bigger <keyword id="21117961" type="General" weightage="20" keywordseo="health-risk" source="keywords">health risk</keyword> than <keyword id="20543591" type="General" weightage="20" keywordseo="outdoor" source="keywords">outdoor</keyword> air pollution in India, and sometimes cities are cleaner than nearby villages where <keyword id="22976772" type="General" weightage="20" keywordseo="household-pollution" source="keywords">household pollution</keyword> is higher, according to the country's two top policy experts. Addressing the India <keyword id="20445293" type="General" weightage="20" keywordseo="clean-air" source="keywords">Clean Air</keyword> Summit (ICAS) 2024, Principal Advisor, <keyword id="19904190" type="General" weightage="20" keywordseo="Ministry-of-Health-and-Family-Welfare" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of Health and Family Welfare" meta.hostid="83" meta.entityid="Ministry of Health and Family Welfare">Ministry of Health and Family Welfare</keyword>, Soumya Swaminathan said, "Studies done in Delhi have shown that women's average exposure to high levels of <keyword id="20827287" type="General" weightage="20" keywordseo="black-carbon" source="keywords">black carbon</keyword> (women <keyword id="19895006" type="General" weightage="20" keywordseo="WHO" source="keywords">who</keyword> are mostly at home) is as much as auto-rickshaw passengers going around outdoor exposed to the ambient air pollution in Delhi, resulting in high systolic blood pressure." "Cities contribute less than 20 per cent to the overall state emissions, wherever they have been assessed, but household emissions predominate, ranging between 20 per cent and 40 per cent. Across the country, we are seeing is that sometimes cities are cleaner than the surrounding villages where household air pollution predominates," she said at the summit organised by think-tank Center for Study of Science, Technology and Policy. This builds a strong case for expanding the scope of India's National Clean Air Programme (<keyword id="20133150" type="General" weightage="20" keywordseo="NCAP" source="keywords">NCAP</keyword>), which currently focuses on non-attainment cities. Air pollution is a major threat to public health and contributes to a significant amount of morbidity as well as mortality. Apart from PM2.5 and PM10, short-lived climate pollutants such as black carbon, methane, ozone, and hydrocarbons have the potential to harm the environment and warm the atmosphere even more than CO2. Black carbon can cause chronic respiratory illnesses, lung cancer, emphysema, pneumonia, asthma, heart disease, and low birthweight. "In terms of reducing our life expectancy, globally, PM2.5 is contributing to about 2.3 years of life lost. Just below that is tobacco. In fact, there's so much attention on tobacco and global frameworks for control, but not the same level of attention has been paid to PM2.5 and certainly not the same level of commitments," Swaminathan said. The impact of air pollution is not limited to public health but has a significant economic cost as well. Recently, the World Bank published a study highlighting that air pollution has resulted in a loss of around USD 8.1 trillion in 2019, which is 6.1 per cent of the global gross domestic product (GDP). "We are always talking about air pollution as a problem but studies also show a strong economic case for action on clean air. There are significant positive consequences to investing in cleaning up the air in terms of the return on investments. We know air pollution is not just bad for our health, but it's also bad for agriculture, because it reduces the sunlight that's reaching the crops and it's bad for our economy or any country's economy as it deters people from coming and living or visiting those places," Swaminathan added. Kalpana Balakrishnan, Director, WHO Collaborating Center for Occupational and Environmental Health, said that the main barrier to shifting to clean cooking fuels that can help reduce household air pollution levels is finance. "If we give free LPG to women for two years, they are unlikely to shift back to biomass cooking even if you remove the subsidies," she said. Through Pradhan Mantri Ujjwala Yojana (PMUY) launched in May 2016, more than 100 million households in India received LPG cylinders by the end of March 2023. Studies shows over 50 per cent of the households that received new LPG cylinders under PMUY did not choose to refill it even once. Around a third of the world's population - 2.4 billion people globally (including 500 million people in India) - still lack access to clean cooking solutions. Although the Ministry of Petroleum and Natural Gas (MOPNG) claims that the country's household LPG "coverage" stands at 99.8 per cent, the National Family Health Survey conducted in 2019-21 (NFHS-5) shows that 41 per cent of the population still cooks on biomass.

Indoor air pollution poses greater health risk than outdoor: Experts

New Delhi: <keyword id="19904868" type="General" weightage="100" keywordseo="Ecom-Express" source="keywords">Ecom Express</keyword> Ltd has filed draft papers with capital markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">Sebi</keyword> to garner Rs 2,600 crore through an initial share-sale. The company's <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>) comprises a fresh issue of equity shares worth Rs 1,284.50 crore and an Offer for Sale (OFS) of shares valued Rs 1,315.50 crore by promoters and other shareholders, according to the draft red herring prospectus (DRHP). Proceeds from the fresh capital to the tune of Rs 387.44 crore will be used for setting up new processing centres with automation and new fulfilment centres, Rs 73.71 crore for computers and IT equipment, Rs 239.23 crore for enhancing technology, data science capabilities, and cloud infrastructure, and Rs 87.92 crore for payment of debt. Also, the remaining funds will be used for general corporate purposes and potential acquisitions, according to the draft papers filed on Wednesday. The company may consider raising Rs 257 crore through a pre-IPO placement. If such placement is undertaken, the amount raised will be deducted from the total fresh issue size. Ecom Express operates a pan-India express logistics network that handles first-mile pick-up, mid-mile transportation, last-mile delivery, returns, and warehousing services. By offering essential logistics infrastructure and using technology, the company connect digital retailers and <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> platforms with consumers across the country. According to RedSeer report, the <keyword id="22803827" type="General" weightage="20" keywordseo="Indian-e-commerce-market" source="keywords">Indian e-commerce market</keyword> is projected to grow significantly, with a compound annual growth rate (CAGR) of 21 per cent over the next five years. It is expected to increase from Rs 5.1 lakh crore in 2024 to Rs 12.5-13.5 lakh crore by 2029. Growth is notably strong in Tier 2+ regions, which are expected to account for 70-80 per cent of B2C e-commerce shipments by 2029, up from 62 per cent in 2024, the report added. Axis Capital Ltd, IIFL Securities Ltd, Kotak Mahindra Capital Company Ltd and UBS Securities India Private Ltd are the book running lead managers to the company's public issue.

Ecom Express files papers with Sebi for Rs 2,600-crore IPO

<ul><li>Shares of <keyword id="11546988" type="UNKNOWN" weightage="20" keywordseo="Clean-Science-and-Technology">Clean Science and Technology</keyword> list at over 100% premium from its price band of ₹880-900 per share.</li><li>The IPO was subscribed 95.54 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹16,786 crore. </li></ul>Shares of Clean Science and Technology made a very strong listing on National Stock Exchange (NSE) and BSE at over 100% premium from its price band of ₹880-900 per share. Post listing, the market capitalisation of the company stood at ₹16,786 crore, according to BSE data. The shares of Clean Science and Technology were trading at ₹1,590 at 10.15 a.m., on July 19. The grey market premium of the stock had suggested a 60-70% premium over the issue price. Moreover, the IPO had received a positive response from investors considering that investors had bid for 114.92 crore equity shares against the IPO size of 1.23 crore equity shares. The issue was open for subscription between June 7 and June 9. The IPO was a complete offer for sale (OFS) by existing promoters and other shareholders. The entire ₹1,546 crore share sale ⁠— priced at ₹880-900 apiece⁠ was from existing investors Ashok Ramnarayan Boob (₹244 crore), Krishnakumar Ramnarayan Boob (₹193 crore), Siddhartha Ashok Sikchi (₹40 crore) and Parth Ashok Maheshwari (₹75 crore). Clean Science and Technology is among the few companies, globally, focused entirely on developing newer technologies using in-house catalytic processes, which are eco-friendly and cost competitive. The company manufactures critical speciality chemicals such as performance chemicals, pharmaceutical intermediates, fast moving consumer goods (FMCG) chemicals and other products. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-multi-device-beta-how-to-download/articleshow/84542073.cms">WhatsApp multi-device beta – here’s how it works and how you can get it </a> <a href="https://www.businessinsider.in/careers/news/it-engineers-web-developers-students-can-take-benefits-of-state-government-internships/slidelist/84519217.cms">IT engineers, web developers and more — State governments are inviting applications for paid internships </a>

Clean Science and Technology IPO: Shares list at 100% premium on exchanges

<ul><li>The company is likely to announce its share allotment status on July 14</li><li>The IPO of the speciality chemical manufacturer was subscribed 95.54 times on the last day of bidding</li><li>Investors have bid for 114.92 crore shares against the 1.23 crore shares on offer.</li></ul>Pune-based speciality chemical manufacturer Clean Science and Technology is likely to announce the allotment of its initial public offering (IPO) status on July 14. The IPO was open for subscription between July 7 and July 9. The company is looking to raise ₹1,546 crore through the IPO. The entire ₹1,546 crore share sale ⁠— priced at ₹880-900 apiece⁠ was from existing investors Ashok Ramnarayan Boob (₹244 crore), Krishnakumar Ramnarayan Boob (₹193 crore), Siddhartha Ashok Sikchi (₹40 crore) and Parth Ashok Maheshwari (₹75 crore). The IPO has received a blockbuster response from investors, especially from qualified institutional buyers and non-institutional investors as investors have bid for 114.92 crore shares against the 1.23 crore shares on offer. The portion for qualified institutional investors was subscribed 159.93 times while the non-institutional investor category received a bid for 211.12 times. In an interview with Business Insider ahead of the IPO, the company’s promoter and wholetime director of the company, Siddhartha Ashok Sikchi, shared how the company holds enough cash in hand and is not looking to raise any primary capital. Here is how to check <keyword id="11626687" type="UNKNOWN" weightage="20" keywordseo="clean-science-and-technology-ipo-allotment">Clean Science and technology IPO allotment</keyword> status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select 'Clean Science and Technology.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on 'Clean Science and Technology’. </li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-to-apply-for-zomato-ipo/articleshow/84365964.cms">Zomato IPO: Here’s how to apply via banks and apps like Zerodha, Paytm Money | Business Insider India</a> <a href="https://www.businessinsider.in/business/startups/news/softbank-swiggy-deals-gets-cci-approval-two-days-before-zomato-ipo/articleshow/84347306.cms">SoftBank-Swiggy deal gets CCI approval, two days before Zomato IPO | Business Insider India</a>

Clean Science and Technology IPO - How to check allotment status, listing date and more

<ul><li>Specialty chemicals company Clean Science and Technology looks to raise ₹1,546 crore through the public issue.</li><li>The company has net cash of ₹192 crore as of March 31, 2021 from operating activities. </li><li>Another lockdown might not be a concern for the company as it comes under essential goods.</li></ul>Pune-based specialty chemicals company Clean Science and Technology is getting closer to listing its shares on the exchanges as the bidding process of the company starts on Wednesday (July 7). The company is looking to raise ₹1,546 crore through the initial public offering (IPO), which is completely an offer for sale (OFS) by existing promoters and other shareholders wherein the company will not receive any proceeds from the offer and all of it will go towards the selling shareholders and promoters. In an interview with Business Insider ahead of the IPO, the company’s promoter and wholetime director of the company, Siddhartha Ashok Sikchi shared how the company holds enough cash in hand and is not looking to raise any primary capital. “The IPO is a 100% OFS. At company level we are not raising any primary capital as we have ₹250 crore cash on board” he said. The company’s promoters who are selling shares include Ashok Ramnarayan Boob (₹244 crore), Krishnakumar Ramnarayan Boob (₹193 crore), Siddhartha Ashok Sikchi (₹40 crore) and Parth Ashok Maheshwari (₹75 crore). The company has net cash of ₹192 crore as of March 31, 2021 from operating activities. Moreover, the company says it has performed well even during the initial difficult lockdown phase last year. “Since specialty chemicals come under essential services, there was not a very strong impact of the lockdown on our financials, but yes demand was impacted. For some products there was low demand and for some demand was significantly better. In fact, our revenues went up over 20% in FY2021,” said Sikchi. The company gets a significant portion of revenues from exporting to China. <div type="image" title="Revenue mix by geography" height="900" width="1200" msid="84166095" hostid="261" caption="&amp;lt;p&amp;gt;Revenue mix by geography&amp;lt;br /&amp;gt;&amp;lt;/p&amp;gt;"></div> The company manufactures critical specialty chemicals such as performance chemicals, pharmaceutical intermediates, fast moving consumer goods (FMCG) chemicals and other products. <div type="image" title="revenue mix by product" height="900" width="1200" msid="84166105" hostid="261" caption="&amp;lt;p&amp;gt;Revenue mix by product&amp;lt;/p&amp;gt;"></div> The company derives majority of its revenue from the sale of MeHQ (hydroquinone monomethyl ether), primarily involved in the manufacturing of acrylic fibers, paints and inks, adhesives and also in the agriculture industry. In the financial year ended March 2021, revenue from the sale of MeHQ amounted to ₹246.36 crore, which is almost half of the company’s revenue from operations. Its revenue grew at an annualised rate of 14.2% between financial year 2019 and financial year 2021. Its profit after tax witnessed a compound annual growth rate (CAGR) of 42.5% during the period. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/simple-energy-new-electric-scooter-promises-240km-range-on-a-70-minute-charge/articleshow/84164967.cms">Simple One electric scooter with 240KM range to launch on August 15: Price, features and everything else we know so far (businessinsider.in)</a> <a href="https://www.businessinsider.in/business/telecom/news/how-to-check-idea-internet-balance-on-mobile/articleshow/84163593.cms">Want to check your Vodafone-Idea internet and prepaid balance? Here is how you can do it easily | Business Insider India</a>

Clean Science and Technology not to use IPO money to expand as it has enough cash in hand

<ul><li><keyword id="11546988" type="UNKNOWN" weightage="20" keywordseo="Clean-Science-and-Technology">Clean Science and Technology</keyword>’s ₹1,546 crore IPO has opened for subscription and investors can apply till July 9. </li><li>The IPO has a price band of ₹880-900 per share. </li><li>The IPO is a complete offer for sale (OFS) by existing promoters and other shareholders to reduce their stake in the firm.</li><li>Most analysts have recommended subscribing to the specialty chemical manufacturer’s IPO on strong industry outlook and financials of the company. </li></ul>Clean Science and Technology is said to be one of the largest manufacturers of certain specialty chemicals in the country. And it’s investors are trying to cash out of the Pune-based company through the initial public offering (IPO), from July 7-9, at a time when the tide is in favour of the entire sector. The entire ₹1,546 crore share sale ⁠— priced at ₹880-900 a piece⁠ — will be from existing investors Ashok Ramnarayan Boob (₹244 crore), Krishnakumar Ramnarayan Boob (₹193 crore), Siddhartha Ashok Sikchi (₹40 crore) and Parth Ashok Maheshwari (₹75 crore). Even though the company is not using the IPO money to expand its business, broking firms recommend that investors must subscribe. “We believe that the Indian specialty chemical industry is going to be one of the biggest beneficiaries of shifting of supply chains post the COVID-19 pandemic. Given the company’s financial performance, industry leading returns ratios and favourable outlook for the industry we recommend ‘subscribe’ to the IPO issue, said Angel Broking in a report. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Broking House </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">BP Wealth </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank Securities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Capital </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Investmentz </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> The pandemic has been a blessing in disguise for the specialty chemicals sector. The stalling of imports from China in the last year translated to more buyers in India, who were otherwise buying from China, leading to a 20% revenue growth for the company in the year ending March 2021. “Since specialty chemicals come under essential services, there was not a very strong impact of the lockdown on our financials, but yes demand was impacted. For some products there was low demand and for some demand was significantly better. In fact, our revenues went up over 20% in FY2020,” Siddhartha Ashok Sikchi, promoter and wholetime director, told Business Insider <a href="https://www.businessinsider.in/stock-market/news/clean-science-and-technology-ipo-the-company-has-net-cash-of-192-crore/articleshow/84165887.cms">in a recent interview</a>. The disruption in global supply from China has also got them more buyers in other parts of the world. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">393 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">419 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">512 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">97.7 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">139.6 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">198.4 </td></tr></tbody></table>(in crores) Source: Report by Investmentz.com The company manufactures critical specialty chemicals such as performance chemicals, pharmaceutical intermediates, fast moving consumer goods (FMCG) chemicals and other products. More than two-thirds of the company’s revenue comes from export clients in China, Canada, Europe, the United States of America, Taiwan, Korea, and Japan. Some of the company’s key customers include: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Segment </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bayer AG and SRF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Agrochemicals </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gennex Labs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pharmaceutical intermediaries </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vinati Organics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Monomer products </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nutriad International NV </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Animal nutrition products </td></tr></tbody></table>Source: Hem Securities report dated July 6 Some of the company's customers have also been associated with the company for over 10 years, the report added. However, in the last three years, the company has reduced its dependence on top clients. Revenue from top 10 clients fell from over half of total revenue in the financial year 2019 to 47.9% at the end of March 2021. The global specialty chemicals market is projected to grow at an annual compounded rate of 5% to reach $1.09 trillion by 2025. Some of the segments such as pharma APIs, agrochemicals, construction chemicals, home &amp; personal care and additives are poised to grow at much higher rates than the overall industry, said Aditya birla Capital in a report dated July 5. No wonder, then, peer companies that are listed have given investors remarkable returns in the last one year. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Last 12 months change (From June 2020 to June 2021) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vinati Organics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">80% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fine Organic Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">49% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Atul </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">98.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SRF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">108% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Camlin Fine Science </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">356% </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/tech/news/a-small-hospital-assam-is-using-ai-to-detect-strokes-in-tea-planters/articleshow/84194042.cms">A small hospital Assam is using AI to detect strokes in tea planters (businessinsider.in)</a> <a href="https://www.businessinsider.in/stock-market/news/gr-infraprojects-ipo-good-ipo-bet-for-long-term-as-per-analysts/articleshow/84193656.cms">GR Infraprojects IPO is for long term investors, say analysts | Business Insider India</a>

Clean Science and Technology, an Indian supplier to Bayer, has opened its IPO ⁠— and ‘subscribe’ is the unanimous call from analysts

Sigachi broke Paras Defence’s record⁠—these are the five IPOs that doubled investors’ money on listing in 2021

<ul><li>The portion reserved for retail investors in the <keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword> has been subscribed 9 times.</li><li>Clean Science and Technology was looking to raise ₹1,546 crore with a price band of ₹880-900 per share.</li><li>Most analysts had recommended subscribing to the speciality chemical manufacturer’s IPO on strong industry outlook and financials of the company.</li></ul>The <keyword id="47458" type="ORGANIZATION" weightage="20" keywordseo="public-issue">public issue</keyword> of Pune-based speciality chemical manufacturer Clean Science and Technology saw a blockbuster response from investors, especially from qualified institutional buyers and non-institutional investors. The issue size was subscribed 95.54 times on the third and final day of the issue on July 9 on strong interest by investors. The initial public offering (IPO) has received bids for 114.92 crore equity shares against the IPO size of 1.23 crore equity shares. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscription Status </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">159.93 times </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">211.12 times </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Retail individual </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9.2 times </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">95.54 times </td></tr></tbody></table> Over 26.9 lakh applicants have subscribed to the IPO. Highest in recent times -- <keyword id="6354706" type="DEFINITION" weightage="20" keywordseo="IndiGo">Indigo</keyword> Paints had 25.96 lakh applicants and <keyword id="10466993" type="UNKNOWN" weightage="20" keywordseo="MTAR">MTAR</keyword> Technologies had 25.95 lakh applicants. The company’s ₹1,546 crore IPO was open for <keyword id="72984" type="PERSON" weightage="20" keywordseo="subscription">subscription</keyword> from July 7 to July 9. The entire ₹1,546 crore <keyword id="48705" type="PERSON" weightage="20" keywordseo="share-sale">share sale</keyword> ⁠— priced at ₹880-900 apiece⁠ was from existing investors Ashok Ramnarayan Boob (₹244 crore), Krishnakumar Ramnarayan Boob (₹193 crore), Siddhartha Ashok Sikchi (₹40 crore) and Parth Ashok Maheshwari (₹75 crore). Strong bidding for the IPO was also because many analysts had highly recommended investing in the IPO. The pandemic has been a blessing in disguise for the speciality chemicals sector. The stalling of imports from China in the last year translated to more buyers in India, who were otherwise buying from China, leading to a 20% revenue growth for the company in the year ending March 2021. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ola-app-raises-500-million-from-temasek-and-warburg-ahead-of-ipo/articleshow/84261607.cms">Ola app raises $500 million from Temasek and Warburg, ahead of IPO (businessinsider.in)</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-ipo-to-open-on-july-14-with-shares-priced-at-72-76-apiece/articleshow/84226269.cms">Zomato IPO to open on July 14 ⁠with shares priced at ₹72-76 apiece | Business Insider India</a>

Clean Science and Technology IPO subscribed over 95 times on final day of bidding

<ul><li>The <keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword> is entirely an offer for sale (<keyword id="883402" type="ORGANIZATION" weightage="20" keywordseo="OFS">OFS</keyword>) by existing promoters and shareholders.</li><li>Pune-based specialty chemicals company <keyword id="11546988" type="UNKNOWN" weightage="20" keywordseo="Clean-Science-and-Technology">Clean Science and Technology</keyword> looks to raise ₹1,546 crore through the public issue.</li><li>The bidding process for the IPO will start on July 7 and end on July 9.</li></ul>Pune-based specialty chemicals company Clean Science and Technology has set the <keyword id="108724" type="PERSON" weightage="20" keywordseo="price-band">price band</keyword> for its initial public offering (IPO) at ₹880-900 while it looks to raise ₹1,546 crore through the public issue. The IPO is completely an offer for sale (OFS) by existing promoters and other shareholders wherein the company will not receive any proceeds from the offer and all the proceeds will be received by the selling shareholders and promoters. The major <keyword id="48705" type="PERSON" weightage="20" keywordseo="share-sale">share sale</keyword> by the company’s promoters include Ashok Ramnarayan Boob (₹244 crore), Krishnakumar Ramnarayan Boob (₹193 crore), Siddhartha Ashok Sikchi (₹40 crore) and Parth Ashok Maheshwari (₹75 crore). Clean Science and Technology is among the few companies, globally, focused entirely on developing newer technologies using in-house catalytic processes, which are eco-friendly and cost competitive. The company manufactures critical specialty chemicals such as performance chemicals, pharmaceutical intermediates, fast moving consumer goods (FMCG) chemicals and other products. The IPO lot size is 16 shares. The company has reserved up to 50% of the offer for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional buyers. In fiscal 2021, the company’s revenue from operations for sales outside India represented 67.86% of total revenue from operations. The company net profit for the period stood at ₹198 crore along with ₹192 crore net cash from operating activities. The bidding process will start on July 7 and end on July 9. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/faze-clan-pump-and-dump-crypto-scam-gets-kay-kicked-off-and-three-others-suspended/articleshow/84063180.cms">E-sports group FaZe Clan is distancing itself from gamers accused of running a ‘pump and dump’ crypto scam</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/gautam-adani-and-family-slip-out-of-worlds-top-20-billionaires-as-per-forbes/articleshow/84062686.cms">Gautam Adani and family slip out of world’s top 20 billionaires, as per Forbes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/google-is-working-on-a-new-app-to-let-you-store-your-medical-records/articleshow/84059948.cms">Google is working on a new app to let you store your medical records</a>

Clean Science and Technology sets IPO price band at ₹880-900, bidding to start on July 7

<ul class="summary-list"><li>Louis Lehot, a Silicon Valley law-firm partner, specializes in taking companies from startup to IPO.</li><li>Lehot gave his suggestions for how to prepare, like hires to make and risks to consider pre-IPO.</li></ul>The IPO market is expected to pick up later this year, so Business Insider emailed Silicon Valley lawyer Louis Lehot, a partner at Foley &amp; Lardner, for advice on how startups should prepare for life as public companies.Lehot has more than 25 years of experience advising businesses, financial sponsors, venture capitalists, investors, and investment banks on topics including equity offerings, mergers, acquisitions, and spinoffs. His work often involves helping startups prepare for initial public offerings.The following has been edited for brevity.What's the environment like for IPOs?2023 was the toughest year for IPO activity in more than two decades. The IPO outlook for the second half of 2024, or at least the first half of 2025, can only get better.Riskier assets, such as Bitcoin, have rebounded strongly, suggesting risk appetite is a lot higher. The Fed is expected to make at least one rate cut later this year. The after-market performance of some recent IPOs has been stronger. Earnings reports from public companies are improving.There's a substantial backlog of companies preparing to go public as soon as the window opens, and the outcome of important federal and state election races should bring greater clarity.Which sectors are most likely to be successful in an IPO?<ul><li>Healthcare and Biotech: These companies go public as part of their venture financing path, often before they have a product in the market. As a result, they are heavily risk-driven, and the opportunity to make alpha with smaller amounts of capital invested is real. If risk appetite is truly back, we can expect investors to pile into biotech, life sciences, and medical device IPOs. New tech, enabled by CRISPR and AI, should increase the speed and accuracy of clinical trials.</li><li>Green Energy: As the effects of climate change spread, we expect industrial policy to favor renewable energy companies and the ecosystem that they enable, maybe even nuclear energy. Renewables and related technologies are gaining traction with a growing focus on sustainability.</li><li>Enterprise software and fintech: There's a solid backlog of late-stage private companies whose venture capital and private equity investors require a public market exit to return capital to limited partners and raise new funds. As a result, we expect a bumper crop of enterprise software (B2B solutions, cloud services, and cybersecurity) and fintech companies (digital banking, payments, and financial services) to come to market when the window opens later this year or next.</li></ul>Are public market investors generally keen to invest in IPOs, or are they focused elsewhere?Public market investors are selective, focusing on established profitability and sustainable growth over speculative, high-growth stories. Many investors are diverting their attention to safer, more predictable assets due to market volatility and economic concerns.What are IPO investors expecting in the current climate?<ul><li>Profitability, or a clear path to profitability: Unlike previous periods focused solely on growth, profitability is now critically correlated to a successful IPO.</li><li>Sustainable revenue growth: Consistent and predictable growth trajectories</li><li>Robust metrics: Strong KPIs and unit economics</li><li>Valuation discipline: More conservative valuations compared to the frothy markets of past IPO booms</li></ul>Should tech startups want to go public right now?If you have a choice, you stay private.For example, if you're the CEO of a successful startup with more than $100 million in revenue that's growing in excess of 30% at over 40% gross profit margins, every door is open to you.There's ample private capital to finance your company's scaling needs. There is likely a robust secondary market for your personal shares if you need to take some chips off the table. You have no obligation to report your compensation and equity holdings publicly or your company's quarterly results, much less live under the public microscope and the constant glare of Wall Street analysts who are focused on reporting on any short-term event that might drive trading.Fringe benefits include more control over business decisions, fewer regulatory requirements, and the ability to focus on long-term growth.The choice is not even close. Any CEO-founder would want to stay private. Look no further than the example of the <a target="_blank" class="" href="https://www.businessinsider.com/how-collison-brothers-built-stripe-most-valuable-us-startup-2021-3">Collison brothers at Stripe</a>.However, the characteristics that drive a transformational CEO-founder to achieve this level of commercial success are not necessarily driven by the same logic.The vision of a transformational CEO extends far beyond the perceived short-term benefits of a quick exit. I'm surrounded by mission-driven CEO's with the burning ambition to achieve global market ubiquity, which usually means an IPO is a necessary step on their long road.What are the most important hires to make before an IPO?<ul><li>Chief Financial Officer: A CFO with public company experience is crucial for navigating financial reporting and investor relations.The CFO of a public company is the first or second line of communication with Wall Street, key long-term investors, auditors of your financial statements, and financial regulators. In addition, the finance department will quickly need someone who can manage internal controls over financial reporting and write public financial reports. This person is usually a "controller."The CFO will also need someone who can forecast, model, and plan ahead and ensure that the company, when going public and forever thereafter, accurately telegraphs its future performance on a forward-looking, one-quarter, and one-year-ahead basis. This is usually a vice president for forecasting, planning, and analysis, or FP&amp;A. For larger public companies, a chief accounting officer is also on the road map.</li><li>General Counsel: Whereas 20 years ago, a general counsel was not hired until just before an IPO, nowadays, a company with $10 million of revenue or more may consider hiring a head of legal in-house to control costs, particularly for rote, repeatable tasks. But an IPO puts the company under a microscope of regulatory, investor, employee, and public scrutiny where the stakes get large enough that an experienced general counsel is usually hired, and if large enough to support the cost, even a deputy general counsel for securities law compliance to manage the more hours intensive processes of making the company ready for IPO and maintaining compliance thereafter.</li><li>Investor Relations Officer: About a year ahead of the big day, a forward-thinking CFO will try to hire a vice president of investor relations who has been through the process of managing a syndicate of analysts before, during, and after an IPO. Particularly for larger companies who garner analyst coverage from six or more sell-side and buy-side analysts, making sure the analysts are getting adequate information to build quality models will ensure higher quality coverage and greater liquidity for the company once public, which is a critical indicator of success.</li><li>Audit Committee Chair: While a pre-IPO company will seek to hire a majority-independent board of directors, the audit committee chair is one key role to fill on the board.The audit committee chair is usually a former CFO who has deep knowledge of the IPO process and the interplay of a board of directors and its independent registered public accounting firm, which is a critical relationship at every stage of an IPO and beyond.The audit committee's role is to oversee the production and auditing of the financial statements and the financial integrity of the company's public disclosures and compliance with regulatory standards. The audit committee chair will want to make sure there are at least two other directors who can serve independently on the audit committee who are financially literate and expert enough to assist them.</li></ul>What are the biggest changes startups must go through to be IPO-ready?To consider a successful IPO, a tech company will need to have line of sight to $100 million in revenue with eight quarters of historical growth and line of sight to eight quarters in the future of predictable growth. For a tech business, annual growth in GAAP revenue will need to be in excess of 20% (and ideally double this amount) at gross margins of 40% or more. These are herculean feats that few businesses will ever achieve.There also has to be some other ingredient, which some call the "sizzle," to inspire long-term fundamental investors to believe that growth can be significantly greater than what the models show over the next eight quarters.Historically, that sizzle could be explained by exposure to international markets that would be enabled by the scaling capital provided by the IPO.Today, revenue from a US tech business may well be evenly split between US and international markets from the outset, so the "sizzle" will need to come from planned advances in technology, new product releases, and new product enhancements that will unlock new and significant branches of growth.What are the key process changes companies need to make ahead of an IPO?<ul><li>Leveling up the company's financial reporting function: Enhanced accuracy and transparency in financial statements is an absolute necessity, both historically and forward-looking for eight quarters in both directions.</li><li>Corporate governance: Companies need to recruit an experienced, independent, and supportive board that can provide wisdom to management during the IPO process and beyond.</li><li>Operational scalability: Ensuring systems and processes can support growth and compliance requirements. Have you installed a world-class ERP software system? Do you have a contract management system and CRM software? Do they all work together?</li><li>Compliance and risk management: Implementing robust controls to meet regulatory standards is a playbook that a new CFO and new General Counsel can implement with the help of outside advisors.</li></ul>

How startups can get in top shape for an IPO, according to Silicon Valley lawyer Louis Lehot

<ul><li>Glenmark Pharmaceuticals’ subsidiary <keyword id="11114071" type="UNKNOWN" weightage="20" keywordseo="Glenmark-Life-Sciences-IPO">Glenmark Life Sciences IPO</keyword> to open on July 27 and close on July 29.</li><li>It is looking to raise ₹1,060 crore through IPO on a price band of ₹695 to ₹720.</li><li>From the overall IPO proceeds, ₹800 crore will go to the promoter Glenmark Pharmaceuticals as payment for the spin-off.</li></ul>After a strong listing by food delivery firm Zomato last week, Glenmark Pharmaceuticals’ subsidiary <keyword id="11114070" type="COMPANY" weightage="20" keywordseo="glenmark-life-sciences">Glenmark Life Sciences</keyword> is another one in line to launch its initial public offering (IPO). The IPO is likely to open on July 27 and close on July 29. Shares of the company are expected to list on bourses on August 6. Glenmark Life Sciences is a manufacturer of active pharmaceutical ingredients (APIs) catering to chronic therapeutic areas such as cardiovascular disease, central nervous system disorders, pain management, and diabetes, among others. Glenmark Life Sciences has announced to raise ₹1,060 crore through the IPO. From the overall IPO proceeds, ₹800 crore will go to the promoter Glenmark Pharmaceuticals as payment for the spin-off. In 2019, the API manufacturing business of Glenmark was spun off into Glenmark Life Sciences as part of a broader reorganisation focusing on the API business. Further, the company intends to use the proceeds from the IPO for capital expenditure requirements, which includes the expansion of capacity at the Dahej (Gujarat) manufacturing site to meet the anticipated future demand of its generic API products. Here are the important details to note: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹695-₹720 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">July 27 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">July 29 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 3 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 4 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 5 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 6 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">20 </td></tr></tbody></table> Some analysts have recommended subscribing to the IPO because of the company’s good performance over the years, clean regulatory history and the fact that it has a strong promoter holding. “Glenmark Life Sciences has a good performance execution and [a] clean regulatory track record. The company is also a leading developer and manufacturer of select high value, non-commoditised APIs in chronic therapies and works with 16 of the 20 largest generic companies globally. The growth momentum also has a strong undercurrent of global API industry growth. We recommend subscribing to the issue,” said a report by broking firm ICICI Direct. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Broking house </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">GEPL Capital Research </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Choice broking </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">SMC Finance </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ICICIdirect </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> Although product concentration remains a key risk where top 10 products contribute 66.36%, the company aims to reduce the dependence with planned capex in FY22, said a report by GEPL Capital Research. “We recommend a subscribe rating to the issue, considering strong research and development (R&amp;D) capabilities, clean regulatory history, strong promoter backing with synergies and planned capex to drive medium term growth,” the report added. Moreover, the company is benefiting from an anti-China product strategy going around the globe. “Except for one antimalarial product segment, our demand outlook, I mean demand that we are getting from customers from the last five quarters has been extremely solid. See, no one is saying that we are buying less from China and more from India, but it is very clear to see that kind of demand. So I believe China Plus One is a real thing,” said Yasir Rajwee, chief executive officer (CEO) of Glenmark Life Sciences in an interview with Business Insider. China Plus One is a business strategy to avoid investing only in China and diversify business into other countries. “Going forward, based on our quick estimate, we are anticipating an 18.7% CAGR [compound annual growth rate] rise in the top-line [revenue] over FY21-24 and margins are also expected to expand… Considering the business growth outlook and almost stable operating margins, we assign a “Subscribe” rating for the issue,” said Choice broking in a report. Further, a report by SMC Finance recommended the IPO for long term on its expansion plans in the next two fiscal years. “Glenmark Life Sciences has generated strong revenue and margin growth in the last 3 years… Moreover, the company intends to increase its API manufacturing capabilities at Ankleshwar facility during FY22, and Dahej facility during FY22 and FY23 by an aggregate annual total installed capacity of 200 kilolitre (KL). This additional production capacity is expected to help the company further expand generic API production and also grow the oncology product pipeline. A long-term investor may opt for the issue,” said the report. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/tatva-chintan-pharma-chem-ipo-how-to-check-allotment-status/articleshow/84732059.cms">Tatva Chintan Pharma Chem IPO: How to check allotment status, listing date and more </a> <a href="https://www.businessinsider.in/finance/banks/news/yes-bank-has-reported-its-highest-net-profit-since-december-2018-at-207-crore/articleshow/84678691.cms">YES Bank’s net profit grows four fold as provision for bad loans shrink </a>

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