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Clean Science and Technology utilized Rs 525.71 crore of its Rs 1,200 crore public offering
01-Aug-2026, 12:24
A monitoring agency report from CARE Ratings Ltd. indicates that Clean Science and Technology Ltd. has utilized Rs 525.71 crore of the Rs 1,200 crore raised through its public offering as of June 30, 2026, with Rs 674.29 crore remaining. While the company fully utilized the Rs 23.78 crore allocated for general corporate purposes, exceeding the original plan, debt repayment has progressed with Rs 599.00 crore utilized against a planned Rs 1,122.67 crore, leaving a balance of Rs 523.67 crore. Offer expenses significantly exceeded the initial projection at Rs 97.86 crore, a deviation that warrants further investigation. The report, which covers the period from the IPO date to June 2026, notes a delay in implementation extending into the first quarter of fiscal year 2027, attributed to compliance with the offer document’s allowance for delayed utilization. A balance of Rs 12.07 crore remains in the public offer account.
A monitoring agency report from CARE Ratings Ltd. indicates that Clean Science and Technology Ltd. has utilized Rs 525.71 crore of the Rs 1,200 crore raised through its public offering as of June 30, 2026, with Rs 674.29 crore remaining. While the company fully utilized the Rs 23.78 crore allocated for general corporate purposes, exceeding the original plan, debt repayment has progressed with Rs 599.00 crore utilized against a planned Rs 1,122.67 crore, leaving a balance of Rs 523.67 crore. Offer expenses significantly exceeded the initial projection at Rs 97.86 crore, a deviation that warrants further investigation. The report, which covers the period from the IPO date to June 2026, notes a delay in implementation extending into the first quarter of fiscal year 2027, attributed to compliance with the offer document’s allowance for delayed utilization. A balance of Rs 12.07 crore remains in the public offer account.