Tatva Chintan Pharma IPO opens today, 1st Day fully subscribed
Tatva Chintan Pharma Chem IPO of specialty chemical manufacturing company opened for subscription today,
And became oversubscribed within a few hours.
The issue has been subscribed 4.5 times till the end of the 1st day’s bidding.
BSE data shows that it received bids for 14685125 shares in both the stock exchanges,
as against 3261882 shares offered.
End of the 1st day, shares allotted to Qualified Institutional Buyers subscribed 0.5 times,
while those for non-institutional investors subscribed 1.13 times & Retail Individual Investors by 8.2 times has shown.
Vadodara base company is specialize in chemical manufacturing & exports most of its products,
To over 25 countries including the US, China, Germany, Japan, South Africa & the UK.
IPO will available for subscription till Tuesday, 20th July’21,
And the price band of this has been fixed at Rupees 1073 to 1083 per share.
The public issue is expect to fetch up to Rs. 500 cr.
Investors who wish to subscribe to this IPO can thereafter bid in as many as 13 equity shares and in multiples.
At the upper price band, they will spend Rs. 14079 for a single lot.
Shares will list on both BSE & NSE.
Applicants should also note that the cut- off time for confirmation of UPI mandate is till 12:00 PM on Thursday, 22nd July’21.
If they fail to do so their application may not be considered.
IPO consists of Rs. 225 cr. through fresh issue of shares,
And the remaining Rs. 275 cr. will be an offer for sale by existing investors.
ICICI Securities & JM Financial are running lead managers of the IPO.
The research teams of Motilal Oswal Financial Services & Anand Rathi Shares,
and Stock Brokers in their respective notes have recommended ‘Subscribe’ to the offer.