New issues command attractive GMP

The two IPOS that open for subscription this week are commanding attractive premia in the grey market. According to market sources, shares of Clean Science and Technology, a manufacturer of specialty chemicals, are changing hands between 40 per cent and 50 per cent over its offer price in the unofficial market ahead of its ~1,546-crore IPO. GR Infraprojects’ shares, too, are changing hands at a premium of more than 30 per cent. Both issues open on Wednesday and close on Friday. The price band for Clean Science IPO is ~880-990 per share, while that for GR Infra is ~828 to 837 per share.