The specialty chemicals company Tatva Chintan Pharma Chem's Rs 500-crore public issue received overwhelming response from investors as it was oversubscribed by 180.36 times during July 16-20, the second highest subscription in 2021 after MTAR Technologies.
Non-institutional investors put in bids 512.22 times their reserved portion, while the portion set aside for qualified institutional buyers was subscribed 185.23 times and that of retail 35.35 times.
Once the allotment is finalised, it can be checked either on BSE website or IPO registrar.
On the IPO registrar website, which is Link Intime, investors have to first select company name - Tatva Chintan Pharma Chem Limited, in the dropdown menu in the Select company field. Then choose between PAN Number or Application Number or DP/Client ID or Account No/IFSC. After adding the details of the opted document, click on Submit to know the application status.
On the BSE website, one has to first select Equity in the Issue type field. In the Issue Name field, select Tatva Chintan Pharma Chem. Then enter your Application Number and PAN Number, and finally click on the Search button.
The offer comprised a fresh issue of Rs 225 crore and an offer for sale of Rs 275 crore by existing selling shareholders. The net proceeds from fresh issue will be utilised for expansion of Dahej manufacturing facility; upgradation of R&D facility in Vadodara; and general corporate purposes.
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And finally the shares will make a debut on July 29.
Tatva Chintan is a specialty chemicals manufacturing company engaged in the manufacture of a diverse portfolio of structure directing agents (SDAs), phase transfer catalysts (PTCs), electrolyte salts for super capacitor batteries and pharmaceutical and agrochemical intermediates and other specialty chemicals (PASC).
It is the largest and only commercial manufacturer of SDAs for zeolites in India. It also enjoys the second largest position globally. In addition, it is one of the leading global producers of an entire range of PTCs in India and one of the key producers across the globe.
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