Tatva Chintan Pharma’s Rs 500 crore preliminary public providing (IPO) opens for subscription at this time. The IPO will include recent situation of shares price Rs 225 crore and a suggestion of sale amounting to Rs 225 crore by present promoters and shareholders. The difficulty will stay open for 3 days till July 20, 2021 and the shares might be provided within the value band of Rs 1,073-1,083 per share. The shares are prone to be listed on the bourses.
Tatva Chintan Pharma’s IPO would be the fourth specialty chemical firm go public in 2021 after Anupam Rasayan India, Clear Science & Expertise and Laxmi Natural Industries.
Traders can apply for a minimal one lot of 13 shares and in multiples thereof, extending upto 14 heaps.
Tatva Chintan will utilise the IPO proceeds to fund its capital expenditure necessities, broaden its Dahej manufacturing facility and improve the R&D facility in Vadodara, and for common company functions.
Tatva Chintan Pharma, promoted by Ajaykumar Mansukhlal Patel, Chintan Nitinkumar Shah and Snehkar Rasiklal Somani, is a specialty chemical manufacturing firm situated in Vadodara. It exports merchandise to greater than 25 international locations, together with america, China, Germany, Japan, South Africa and United Kingdom.
ICICI Securities and JM Monetary are the e book working lead managers to the difficulty, whereas Hyperlink Intime India is the registrar to the difficulty.