Tatva Chintan Pharma IPO: The Rs 500 crore IPO of Tattva Chintan Pharma Chem will open on July 16. The company has fixed a price of Rs 1073-1083 per share for this IPO and this IPO will be open for subscription till July 20. Under this IPO of Rs 500 crore, new shares of Rs 225 crore and offer for sale (OFS) of Rs 275 crore are included by existing shareholders. The IPO will open for anchor investors on July 15. After the IPO subscription, the company’s shares will be listed on BSE and NSE.
Fixed lot size of 13 shares
For subscription to the company’s IPO, you can bid for a minimum of 13 shares or its multiples. This means that according to the upper price band, at least Rs 14,079 will have to be invested. 50% of the Tattva Chintan Pharma Chem IPO is reserved for qualified institutional buyers and 15% for non-institutional investors. The remaining 15 per cent is reserved for retail investors. ICICI Securities and JM Financial are the book lead managers to the issue while Link Intime India Pvt Ltd is the registrar to the issue.
LIC IPO: Cabinet approval for LIC’s IPO, now a committee headed by Finance Minister will decide the issue size and price
The money raised will be used in this way
After successful listing, Tattva Chintan will join the league of Aarti Industries, Naveen Fluorine, Alkyl Amines Chemicals, Vinati Organics and Fine Organics Industries. Of the Rs 147.1 crore raised through the IPO, Tattva Chintan Pharma Chem will meet the capital requirements for expansion of the Dahej manufacturing facility. In addition, Rs 23.9 crore will meet the capital requirements for upgradation of R&D facility located at Vadodara. Apart from this, the money raised will be used to fulfill common corporate purposes.