Profit booking subdued India's equity markets during the morning trade session on Monday. Initially, the equity markets had a gap-down opening due to negative global cues, though GR Infra Projects and Clean Science made their debut with 100% premium on their first day of listing.
The BSE Sensex traded at 52,756.55 points, at 10.30 a.m., lower by 383.51 points or 0.72 per cent from its previous close. The Nifty50 on the National Stock Exchange traded at 15,822.25, lower by 101.15 points or 0.64 per cent from its previous close.
GR Infra makes debut at 103% premium
GR Infraprojects listed with a 103 percent premium at Rs 1,700, higher by Rs 863, against issue price of Rs 837, while Clean Science & Technology share price opened with a massive 98 percent premium on July 19 at Rs 1,784.40, higher by Rs 884.40 or 98.27 percent over the issue price of Rs 837.
GR Infraprojects has grown exponentially over the last 2 decades and currently it has one operational build-operate-transfer (BOT) (annuity) project and 14 road projects under hybrid annuity mode (HAM). Of the 14 projects, 5 projects are currently operational, 4 projects are under construction and construction is yet to commence on 5 projects. The company has also bid for a project in Bengaluru's Namma Metro project and won the bid successfully.
Clean Science debuts at 100% premium
The other debut in the markets on Monday was specialty chemicals company Clean Science & Technology, which has robust financials with industry-leading return ratios, diversified product portfolio, strong focus on environmental, social, and corporate governance (ESG) front, consistent R&D initiatives, and strong client base, reports said.
Clean Science manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates, and FMCG chemicals. It is known for its unique vapour-phase technology for manufacturing Anisole from phenol with better atom economy and only water as effluent compared to liquid phase manufacturing process.