Tatva Chintan IPO subscribed 119 times The Rs 500-crore IPO of Tatva Chintan Pharma Chem is witnessing an amazing response from buyers as it’s oversubscribed by 119.21 instances to date, on July 20, the ultimate day of bidding Tatva Chintan IPO
Traders have put in bids for 38.88 crore fairness shares in opposition to supply dimension of 32.61 lakh fairness shares, the subscription information out there on the exchanges confirmed. The supply dimension talked about above was lowered as the corporate raised Rs 150 crore from anchor investors on July 15.
Tatva Chintan IPO subscribed 119 times Retail buyers appear to be strongly backing the problem as their reserved portion was subscribed 31.49 instances and that of non-institutional buyers 383.31 instances.
Tatva Chintan IPO Certified institutional consumers have put in bids 74.65 instances their reserved portion.
The specialty chemical compounds firm is planning to lift Rs 500 crore by means of its public problem which includes a recent problem of Rs 225 crore and a proposal on the market of Rs 275 crore by current promoting shareholders. The worth band for the supply has been mounted at Rs 1,073-1,083 per fairness share.
Tatva Chintan IPO is a specialty chemical compounds manufacturing firm engaged within the manufacture of a various portfolio of construction directing brokers (SDAs), section switch catalysts (PTCs), electrolyte salts for tremendous capacitor batteries and pharmaceutical and agrochemical intermediates and different specialty chemical compounds (PASC).
Tatva Chintan IPO It’s the largest and solely business producer of SDAs for zeolites in India, working by means of 2 manufacturing services located at Ankleshwar and Dahej in Gujarat. Tatva Chintan provides their merchandise to clients in India and export their merchandise to over 25 international locations, together with the USA, China, Germany, Japan, South Africa and the UK.
“Development in demand for SDAs, particularly for purposes in automotive section for complying with newest emission management customary, ought to drive income over the medium time period. SDA and PTC merchandise from the corporate supply a wide range of purposes in inexperienced chemistry, which is pertinent given the elevated emphasis on inexperienced and sustainable applied sciences,” mentioned Asit C Mehta.
The corporate additionally earns 30 % of income from pharmaceutical and agrochemical intermediates and different specialty chemical compounds, that are mainly export orders shifted from China to India. “With its superior product combine, established model title, ahead integration, robust relationships with multinational, and including capacities, we imagine Tatva Chintan is more likely to ship wholesome monetary efficiency,” mentioned the brokerage which beneficial to subscribe the problem from a long-term potential.
On the higher worth band of Rs 1,083, the inventory is valued at 45.8x of FY21 earnings of Rs 23.64 (primarily based on totally diluted put up problem fairness), the brokerage feels.
Tatva Chintan shares traded at a premium of Rs 700-750 within the gray market, the IPO Watch and IPO Central information confirmed. This resulted right into a worth of Rs 1,783-1,833 per share, increased by 65-69 % over increased problem worth band of Rs 1,083.