Tattva Chintan Pharma Chem Ltd’s Rs 500 crore IPO gets huge interest
The IPO of Tattva Chintan Pharma Chem was subscribed 4.5 times on the first day and 15.04 times on the second day.
- Last Update:20 July 2021 at 10:13 am
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There was huge investor interest even on the second day of bidding for Rs 500 crore Initial Public Offer (IPO) of Tattva Chintan Pharma Chem Ltd. The issue was subscribed 15.04 times on July 19. According to subscription data, Tattva Chintan Pharma Chem IPO has received bids for 4.90 crore equity shares on the second day. The issue received applications for 4,90,84,165 shares against an offer of 32,61,882 shares on the second day. The portion set aside for retail investors has been subscribed 23.73 times. Non-institutional investors have subscribed 12.21 times to the issue while qualified institutional buyers have bid 1.96 times on the second day. It was subscribed 4.5 times on the first day of bidding.
Incorporated in 1996, Tattva Chintan Pharma Chem Limited is a chemical manufacturing company that is one of the leading global producers of a complete range of Phase Transfer Catalyst (PTC) in India. It manufactures Structure Directing Agents (SDA), PTC, Pharmaceutical and Agrochemical Intermediates and other specialty chemicals. The company aims to raise Rs 500 crore through fresh issue of Rs 225 crore and offer for sale by shareholders of Rs 275 crore. Tattva Chintan Pharma Chem had already received bids worth Rs 150 crore on July 15 from anchor investors on the high end of the brand valued at Rs 1,073-1,083.
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