Tatva Chintan Pharma Chem Ltd’s Rs 500-crore IPO received huge interest
Tatva Chintan Pharma Chem IPO was subscribed 4.5 times on the first day of bidding and 15.04 times on the second day
- Last Updated:July 20, 2021, 10:22 IST
- FOLLOW US ON:
Tatva Chintan Pharma Chem Ltd’s Rs 500-crore initial public offering (IPO) continued to witness huge interest from the investors on the second day of bidding. The issue was subscribed 15.04 times on July 19. Tatva Chintan Pharma Chem IPO has received bids for 4.90 crore equity shares, on Day 2, according to the the subscription data. The issue received applications for 4,90,84,165 shares against on offer 32,61,882 shares on the second day. The portion set aside for retail investors has been subscribed 23.73 times. The non-institutional investors have subscribed the issue 12.21 times while Qualified institutional buyers have put in bids 1.96 times on the second day. The was subscribed 4.5 times on the first day of bidding.
Started in 1996, Tatva Chintan Pharma Chem Limited is a chemical manufacturing company is one of the leading global producers of an entire range of phase transfer catalysts (PTCs) in India. It manufactures structure directing agents (SDAs), PTCs, pharmaceutical and agrochemical intermediates, and other specialty chemicals. The company aims to raise Rs 500 crore through its offer comprising a fresh issue of Rs 225 crore and an offer for sale of Rs 275 crore by shareholders. Tatva Chintan Pharma Chem already received a bid worth Rs 150 crore from anchor investors on July 15, at the higher end of the Rs 1,073-1,083 price brand.
Most analysts and brokerage firms have advised to subscribe Tatva Chintan Pharma Chem IPO. The price band has been fixed at Rs 1,073-1,083 a share. Investors can bid for a minimum of 13 shares and in multiples there after. One can bid for a maximum of 14 lots.
Read all the Latest News, Breaking News and Coronavirus News here
Source: News18