Tatva Chintan Pharma Chem IPO makes strong listing on exchanges with 100% premium, shares open at ₹2,111
- Shares of
Tatva Chintan Pharma Chemlisted at over 100% premium from its price band of ₹1,073-1,083.
- The IPO was subscribed 182 times on the final day of bidding.
- The market capitalisation of the company stood at ₹5,175 crore.
Post listing, the market capitalisation of the company stood at ₹5,175 crore, according to BSE data.
At 10:07 a.m., on July 29, shares of Tatva Chintan
AdvertisementThe grey market premium of the stock had indicated a 105-110% premium with stock price at Rs 1,140-1,150 per share over the issue price. The company was looking to raise ₹500 crore through the public issue of shares.
Gujarat-based speciality chemical manufacturer was a hit among investors during the bidding days, 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.
In fact, most analysts had suggested subscribing to the IPO for the long term on strong growth opportunities in global markets.
The IPO was open for subscription from July 16 to July 20.
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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