Tatva Chintan IPO: After the allotment, Tatva Chintan will refund money to ineligible investors around July 27 and will credit equity shares to eligible investors’ demat accounts on July 28.Specialty chemicals company Tatva Chintan Pharma Chem is expected to finalise the IPO share allotment today, July 26.
Its 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.
How to check your application today:
The allotment of shares in Tatva Chintan IPO, which was subscribed a whopping 180 times, is likely to be finanlised today. In fact, the ₹500 crore IPO was fully subscribed within hours of opening. The retail segment was subscribed 35 times while qualified institutional buyers(QIBs)185 times and non-institutional investors 512 times. Investors who had applied for Tatva Chintan shares can check the allotment status on the website of its registrar Link Intime India Private Ltd.
According to market observers, Tatva Chintan shares are quoting at a premium of more than ₹1,000 in grey market, suggesting possibility of strong listing. Shares may list on July 29 on NSE and BSE, according to brokerages.
Many brokerages had recommended subscribe to Tatva Chintan IPO on promising sector outlook, saying that the company is well poised to capitalize on opportunities in agrochemical sector led by proposed capacity expansions, increase in demand, R&D capabilities, and adoption of China plus one strategy by global companies.
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.
And finally the shares will make a debut on July 29.
Grey Market Premium :
In the grey market, the shares were available at a premium of Rs 1,000, the IPO Watch data showed. This resulted into a price of Rs 2,083, a 92.3 percent premium over issue price of Rs 1,083 per share.
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.