Clean Science also informed the exchanges that the relevant promoters Ashok Boob, Krishnakumar Boob and Parth Maheshwari and their promoter group members were the sellers in the block trade that occurred just after market open and SIEPL was among the brokers.
“We have been given to understand that SIEPL has/is taking immediate remedial steps to review the situation and address the matter responsibly. The Sellers have confirmed that actual sale is limited to up to ~24%. The Sellers are awaiting a detailed explanation from SIEPL of the reasons and the remedial steps taken by it,” Clean Science stated in its filing.The company clarified to CNBC-TV18
earlier in the day that a punching error had led to the stock witnessing extraordinary trading volumes in early trade on Thursday. It said a punching error from Spark Avendus led to 6 crore shares changing hands in the large trade, which was supposed to witness 2.5 crore shares change hands.
The 6 crore shares changing hands would have meant 56% of the outstanding equity changing hands. However, the company confirmed to CNBC-TV18 that a total of 2.5 crore shares, or 24% of its outstanding equity, had changed hands in the block deal.
The stock witnessed volatility in trade, by first declining 7% and then recovering 13% from its day’s low and then giving up all gains and back to trading with losses.
As of June 30, Clean Science’s promoters held 74.97% stake in the company. Ashok Boob held 12.8% stake, while Krishna Boob held 2.6% stake in individual capacity. Parth Maheshwari held 5.56% stake in the company. Meanwhile, Krishnakumar Ramnarayan Boob HUF held 3.04% stake in the company.
Shares of Clean Science and Technology were trading 2.2% lower at ₹1,154.4 apiece around 2.30 pm. The stock has declined 9.5% in the past month and 25.2% this year, so far.
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