The IPO which is worth Rs.500 crore of Tatva Chintan Pharma seem to witness a significant response from the investors as it has been oversubscribed by 134.31 times which has been happening since 20th July which was the final day for the bidding.
Tatva Chintan IPO Subscribed
The investors are putting in bids that are worth 43.81 crores in equity shares which are directed to the offered size of 32.61 lakh worth of equity shares which have been evident in the data of subscription which is available on showed exchanges, size of the offer which is mentioned above has been reduced as the company has raised about Rs.150 crore which they have managed to gain from anchor investors if we talk about 15th July.
The retail investors that are strongly backing the issue as the reserved portion has been subscribed for about 32.86 times and also when we talk about the investors which are non-institutional are 406.65 times and it has also been seen that about 107.58 times have been put by the qualified institutional buyers which is their reserved portion.
After this, the IPO has received more than 48000 crores in Rupees of bids which has been received from investors for now and it has been concluded that this includes Rs. 12000 crore that has come underbids from QIB’s.
The company which specializes in chemicals is coming up with a way to raise Rs.500 crore which they are planning to do through their public issue which is of Rs.225 crore and there has also been a sale offer of Rs.275 crore thorough the selling shareholders which are existing and the offer which has been foxed for the price band is Rs.1073 to 1083 which is going to be for per equity share.
About The Company
The company deals with pharma and chemical as the company specializes in chemicals and they are engaged in manufacturing a portfolio that is diverse as it focuses on directing agents, the company deals with SDA’s, PTC’s, and PASC.
The company is the largest and the only manufacturer which is commercial when it comes to SDA’s for zeolites in India, they are manufacturing through 2 facilities that are situated in Dahej and Ankleshwar which are situated in Gujarat, they are also exporting products to over 25 other countries that include China, Germany, USA, South Africa, Japan, and the UK.