News And Events

Uncategorized

Tatva Chintan Pharma Chem Ltd IPO

Gujarat-based specialty chemical company Tatva Chintan Pharma Chem Limited initial public offering (IPO) opened for bidding on Friday i.e., 16 July and it will remain open for subscription till 20 July with the price band of the public issue fixed at ₹1,073-1,083 per share. The IPO was fully subscribed within hours of opening on Friday as the offer received a strong response from investors.
On the second day of the bidding, the retail portion was subscribed 23.96 times whereas the qualified institutional buyers (QIBs) portion was subscribed 1.98 times. With non-institutional investors portion at 12.32x, the overall issue was subscribed nearly 15.19 times on Day 2, data compiled by the stock exchanges showed on Monday. The company raised ₹150 crore from 22 anchor investors ahead of its share sale.
The ₹500 crore offer comprises a fresh issue of ₹225 crore and an offer for sale of up to ₹275 crore by promoter and promoter group including Ajaykumar Mansukhlal Patel, Chintan Nitinkumar Shah, and Shekhar Rasiklal Somani. Proceeds from the issue will be used for funding expansion of its Dahej manufacturing facility and upgradation at its R&D facility in Vadodara.
Tatva Chintan is a specialty chemical manufacturing company engaged in the manufacture of a diverse portfolio of structure directing agents (“SDAs”), phase transfer catalysts (“PTCs”), electrolyte salts for super capacitor batteries and pharmaceutical and agrochemical intermediates and other specialty chemicals.
The share allotment is likely to take place on 26 July while the tentative date for listing of the company’s shares on NSE and BSE is 29 July.

To apply Call: 9779270009, 9872022300, 9872722300

Tuesday, July 20, 2021