Tatva Chintan IPO Subscribed 48 Times On The Final Day
- ByAyushi Ray | July 20, 2021
Tatva Chintan IPO subscribed 48 times on the final day. Investors have put in bids for 15.60 crore equity shares against an offer size of 32.61 lakh equity shares, the subscription data available on the exchanges showed. The offer size mentioned above was reduced as the company raised Rs 150 crore from anchor investors on July 15. Retail investors seem to be strongly backing the issue as their reserved portion was subscribed 29.36 times and that of non-institutional investors 134 times. Qualified institutional buyers have put in bids 15.5 times their reserved portion. The specialty chemicals company is planning to raise Rs 500 crore through its public issue which comprises a fresh issue of Rs 225 crore and an offer for sale of Rs 275 crore by existing selling shareholders. The price band for the offer has been fixed at Rs 1,073-1,083 per equity share.
Tatva Chintan Pharma Chem is a specialty chemicals 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 (PASC). It is the largest and only commercial manufacturer of SDAs for zeolites in India, operating through 2 manufacturing facilities situated at Ankleshwar and Dahej in Gujarat. Tatva Chintan supplies their products to customers in India and exports their products to over 25 countries, including the USA, China, Germany, Japan, South Africa and the UK.
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