Tatva Chintan Pharma IPO: Tattva Chintan Pharma’s Rs 500 crore IPO has been subscribed 17.22 times. The last chance to subscribe to this IPO is today, July 20. Investors can bid in lots of 13 shares in the price band of Rs 1073-1083 per share till today evening. Investors showed enthusiasm about this IPO and on Friday last week, the IPO was oversubscribed within the first two hours. Apart from this, the shares of the company are also getting a positive trend in the gray market and are trading at a premium of Rs 760 against the issue price of Rs 1083.
For this IPO, qualified institutional buyers have subscribed 2.96 times, non-institutional investors 16.01 times and retail investors 25.89 times of the reserved share so far. 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. After the IPO subscription, the company’s shares will be listed on BSE and NSE. Allotment of its shares can be done on July 26 and can be listed on the exchange on July 29.
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Minimum investment will be Rs 14079
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.
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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.
The company’s business is spread all over the world
Established in 1996, Tattva Chintan Pharma Chem is a chemical manufacturing company that manufactures Structure Directing Agents (SDA), Phase Transfer Catalyst (PTC), Pharma & Agrochemical Intermediates and other specialty chemicals. The company’s customers are in automotive, petroleum, agrochemicals, dyes and pigments, paints and coatings, pharma and personal care, among other sectors. The company’s products are sold not only in India but also exported to more than 25 countries including America, Germany, South Africa, China and UK. In the last financial year 2020, 76 percent of the company’s operating revenue came from exports. The company has been steadily increasing in revenue and had earned Rs 206.80 crore in FY 2019, Rs 264.62 crore in FY 2020 and Rs 306.29 crore in FY 2021.