Dirty Trade of Clean Science: Stock Turns Volatile After Avendus Spark Punching Error Causes 56% Equity Trade in Block Deal; Promoters Planned 24% Stake Sale

DSIJ Intelligence-2 / 21 Aug 2025/ Categories: Mindshare, Trending

Dirty Trade of Clean Science: Stock Turns Volatile After Avendus Spark Punching Error Causes 56% Equity Trade in Block Deal; Promoters Planned 24% Stake Sale

Before the session, the stock had gained 31 per cent from its IPO price of Rs 900 per share, though down 28 per cent from the listing high of Rs 1,643.

Share price of  of Clean Science and Technology Ltd witnessed volatile trading on August 21, after an unusual spike in volumes stemming from a punching error by Spark Avendus. The company clarified to that the error caused 6 crore shares—representing 56 per cent of outstanding equity—to change hands in a single transaction, despite the actual block deal being intended for 2.5 crore shares (24 per cent of equity).

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Time

Event

9:16 AM

20 per cent equity (2.08 crore shares) changes hands in block deal; stock falls as much as 7 per cent in early trade.

9:28 AM

Data suggests 56 per cent equity has changed hands due to punching error.

9:41 AM

Management confirms to CNBC-TV18 that a 'punching error' caused extraordinary volumes and actual block size was only 24 per cent (2.5 crore shares).

9:53 AM

Stock recovers sharply, climbing 13 per cent from day's low to trade 6 per cent higher.

9:57 AM

Stock reverses again, giving up all gains and returning to negative territory.

Avendus Spark stated, “We are reviewing the facts with utmost priority and remain fully committed to addressing this matter responsibly and in line with the highest standards of governance.”

Promoters Ashok Boob and Krishna Boob were reportedly set to sell 24 per cent stake in Clean Science and Technology Ltd. via block deals. As of June 30, promoters held 74.97 per cent of the company, with Ashok Boob at 12.8 per cent, Krishna Boob at 2.6 per cent, and Krishnakumar Ramnarayan Boob HUF at 3.04 per cent.

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Following the trading incident, shares of Clean Science were 1.4 per cent lower as of 3:04 PM. Before the session, the stock had gained 31 per cent from its IPO price of Rs 900 per share, though down 28 per cent from the listing high of Rs 1,643.

Disclaimer: The article is for informational purposes only and not investment advice.