Tatva Chintan IPO ff To Flying Start Lists With 95 pc Premium
- ByAyushi Ray | July 29, 2021
Tatva Chintan IPO ff to flying start lists with 95 pc premium. The stock made its debut at Rs 2,111.80, zooming 94.99 per cent from the issue price on the BSE. It then hit the day’s high of Rs 2,486.30, rallying 129.57 per cent. At the NSE, the stock listed at Rs 2,111.85, registering a massive gain of 95 per cent. The Rs 500-crore initial public offer of Tatva Chintan Pharma Chem received strong investor response, with the issue getting subscribed by a whopping 180.36 times last week. Its price range was at Rs 1,073-1,083 per share. Vadodara based Tatva Chintan Pharma Chem Limited is a niche specialty chemical manufacturing company. It is the largest and only commercial manufacturer of structure directing agents (SDAs) for zeolites in India. In addition, the company is one of the leading global producers of an entire range of phase transfer catalyst (PTCs) in India and one of the key producers across the globe. It has a strong product portfolio with 47 products under SDA portfolio, 48 products under PTC Portfolio, six products under electrolyte salts and 53 products under PASC portfolio, as of FY21.
The Vadodara-based firm is a specialty chemical manufacturing company. The company exports most of its products to over 25 countries, including the US, China, Germany, Japan, South Africa, and the UK. Tatva Chintan Pharma Chem IPO, which sold between July 16 and 20, received a strong response from the investors. The issue received bids of over 58.83 crore shares against the total issue size of over 32.61 lakh shares, according to data available with the National Stock Exchange (NSE). The quota reserved for qualified institutional buyers (QIB) was subscribed 185.23 times. The shares allocated for non institutional investors’ quota was booked 512.22 times while the retail portion was subscribed 35.35 times.
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