Tatva Chintan Pharma IPO: Tatva Chintan Pharma’s 500 crore IPO open for subscription, from issue to company details know here

The price of Rs 1073-1083 per share has been fixed for the IPO of Tatva Chintan Pharma Chem.

Tatva Chintan Pharma IPO: Tattva Chintan Pharma’s Rs 500 crore IPO has opened today 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. The face value of the shares is Rs 10 per share. 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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Lot size of 13 shares

For subscription to the company’s IPO, you will be able to 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.

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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 is continuously growing in revenue and in FY 2019, Rs 206.80 crore, in FY 2020 Rs 264.62 crore and in FY 2021, revenue of Rs 306.29 crore was achieved.