Tatva Chintan Pharma Chem get subscribed 182 times on the final day of bidding

• Tatva Chintan Pharma Chem gets subscribed 182 times on the final day of bidding.
• The portion reserved for retail investors has been subscribed 35.68 times.
• Most analysts were bullish on the IPO and had suggested subscribing for the long term on strong growth opportunities in global markets.

The public issue of Gujarat-based speciality chemical manufacturer Tatva Chintan Pharma Chem was a hit among investors, especially from non-institutional investors and qualified institutional buyers.

The issue size was subscribed 182.04 times on the third and final day of the issue on July 20. The initial public offering (IPO) was subscribed much more than that of the recent speciality chemical company Clean Science and Technology IPO which was 95 times.

The initial public offering (IPO) has received bids for 58.83 crore equity shares against the IPO size of 32.31 lakh equity shares.
The ₹500 crore IPO included ₹225 crore of fresh equity shares by the company and ₹275 crore of offer for sale (OFS) by promoters and shareholders.

The IPO was open for subscription from July 16 to July 20 with a price band of ₹1,073-1,083.

The company manufactures a range of products in specialty chemicals category and serves industries like automotive, petroleum, pharmaceutical, agro chemicals, paints and coatings, dyes and pigments, personal care and flavour and fragrances industries.

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