Tatva Chintan Pharma IPO has been opened to investors for subscription on 16 July 2021. It received a strong response right off the bat, especially from the retail investors. The shares allotted for the retail section were subscribed within two hours of the first bidding day.
As of 5 pm, this specialty chemical manufacturing company’s issue was subscribed 4.50x times. As per the data compiled by the stock exchanges, this company received a subscription application for 1,46,85,125 shares, and 32,61,882 were reserved from the lot.
The retail investor and qualified institutional buyer portions were subscribed 8.23x times and 0.50x times, respectively. Additionally, the non-institutional investor portion was subscribed 1.13x times.
QIB | NII | RII | Total |
0.50x times | 1.13x times | 8.23x times | 4.50x times |
Tatva Chintan Pharma has managed to generate Rs. 149.99 crores shares from its 22 anchor investors right before its initial public offering. The specialty chemical manufacturing company decided to allocate 13,85,040 shares to its anchor investors. Each share was priced at Rs. 1083. Notably, JM Financial and ICICI Securities are the book lead managers to this IPO.
Some of the noteworthy anchor investors of this company are as follows –
The Day 1 of the Tatva Chintan IPO emerged as a success. However, it is too soon to seal the fate of this issue. This company’s IPO will close for subscription on 20 July 2021, Tuesday, with a range of Rs. 1073 – Rs. 1083 per share.
The company plans to use proceeds from this initial public offering to fund its CAPEX requirements and expand its Dahej manufacturing unit, and upgrade the R&D facilities in Vadodara.
Tatva Chintan IPO’s issue size is worth Rs. 500 crores. It comprises fresh issues amounting to Rs. 225 crores and offers for sale worth Rs. 275 crores.
Investors can check the share allotment status of Tatva Chintan Pharma IPO by visiting the official website of Link Intime India.
The allotted shares will be credited to investors’ DEMAT account on 28 July 2021.
The process of refund will begin on 27 July 2021.
We're Live on WhatsApp! Join our channel for market insights & updates