Clean Science & Technology Ltd., a prominent player in the Indian chemical industry, recently addressed confusion surrounding reported significant block trading activity.

Clarification on Trading Volume

A Clean Science Tech executive has stated that a punching error by Spark Avendus resulted in extraordinary trading volume. The company clarified that the block deal involved only 24% equity, contrary to earlier reports of larger transactions.

Initial Reports

Previous reports had suggested substantial block trades on both major exchanges:

The combined block trades were initially reported to be worth over Rs 2,531.11 crores.

Corrected Information

With the company's clarification, it is now understood that these figures were the result of a punching error and do not accurately reflect the actual trading activity. The block deal involved a significantly smaller portion of equity than initially reported.

However, some verified transactions did take place:

• Norway-based Norges Bank purchased 14.62 lakh shares worth Rs 158 crore at Rs 1,077.68 per share, representing a 9% discount to the previous closing price of Rs 1,180.80.
• Nippon India Mutual Fund emerged as the largest buyer, acquiring 31.15 lakh shares for Rs 335 crore at Rs 1,075.20 per share.
• SBI Mutual Fund purchased 27.52 lakh shares for Rs 296 crore.
• Bajaj Allianz Life Insurance bought 8 lakh shares worth Rs 86 crore.

The transactions involved promoters Asha Ashok Boob and Ashok Ramnarayan Boob selling over 1.9 crore shares, representing approximately 20% stake in the company.

Market Response

Clean Science shares closed 2.8% lower at Rs 1,147.80. The stock has experienced significant declines with a 24.46% drop over the past year and 23.36% decline year-to-date.

About Clean Science and Technology

Clean Science and Technology Ltd. is known for its focus on developing eco-friendly technologies and processes in the chemical industry. The company specializes in manufacturing functionally critical specialty chemicals and has gained recognition for its innovative approaches to sustainable chemical production.

Investor Considerations

This incident highlights the importance of verifying information and waiting for official clarifications before drawing conclusions about market activities. Investors and analysts are advised to rely on official company statements and verified data when assessing stock movements and making investment decisions.

As always, thorough research and professional advice are recommended before making any investment choices. The company's prompt clarification demonstrates its commitment to transparency in communications with the market and its shareholders.

Clean Science & Technology Limited (CSTL) has announced a significant capital infusion of ₹70 crore into its wholly owned subsidiary, Clean Fino-Chem Limited (CFCL). This strategic move, disclosed in a regulatory filing, marks a substantial investment in the speciality chemicals sector.

Investment Details

The investment was executed through a rights issue, where CSTL subscribed to an additional 11,70,569 equity shares of Clean Fino-Chem. The shares, with a face value of ₹10 each, were acquired at a premium of ₹588 per share, totaling ₹70,00,00,262.

Purpose and Impact

According to the company's statement, the primary objective of this capital injection is to fund CFCL's ongoing projects. This move is expected to strengthen the subsidiary's position in the speciality chemicals industry and support its growth initiatives.

About Clean Fino-Chem Limited

Clean Fino-Chem, incorporated on March 22, 2022, operates in the speciality chemicals sector. The company has shown rapid growth since its inception:

Transaction Details

• The transaction falls under the related party category, as CFCL is a wholly owned subsidiary of CSTL.
• The investment was made at arm's length, ensuring fairness and transparency in the transaction.
• Post-investment, CSTL maintains 100% ownership of CFCL.

This strategic investment by Clean Science & Technology Limited underscores the company's commitment to expanding its presence in the speciality chemicals market through its subsidiary. The significant increase in CFCL's turnover over the past two years suggests a positive trajectory, which this fresh capital infusion aims to further accelerate.