Tatva chintan IPO listing Today: Investor’s money doubled
Tatva chintan IPO listing Today: Tatva Chintan Pharma Chem made a great debut in the stock market by listing on NSE at ₹ 2,111.8 per share on Thursday.
New Delhi. Today was the name of Tatva Chintan in the stock market. Its shares have had a great listing on BSE and NSE on Thursday (July 29). Specialty chemical manufacturer Tatva Chintan Pharma Chem made a great debut in the stock market by listing on NSE at ₹ 2,111.8 per share on Thursday, against its ₹ 1,083 per share. There was a 95% premium on the issue price. On the BSE, the shares were trading at ₹2,416, up 123% from the issue price. Minutes after listing, the stock rose to ₹2,448, doubling investors’ money.
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Its initial public offering (IPO) opened for subscription on July 16 and closed on July 20 and the share allotment was finalized on Tuesday. The 500 crore IPO was subscribed almost 180 times on the last day, with the retail segment being subscribed 35 times, institutional segment 186 times and non-institutional 516 times.
Established in 1996, the Vadodara-based company manufactures 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 (PASCs) as per Livemint report. is engaged in.
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Tatva Chintan operates through two manufacturing facilities located at Ankleshwar and Dahej in Gujarat. As on 31 March 2021, Tatva Chintan earned a profit of ₹52.26 crores and a revenue of ₹300.35 crores.
Several brokerage firms had recommended giving ‘subscribe’ rating to the issue. While making the recommendation, it was stated that the company is poised to capitalize on the opportunities in the agrochemicals sector led by the proposed capacity expansion, increased demand, R&D capabilities and the adoption of China+One strategy by global companies.
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Tatva Chintan also exports products to more than 25 countries. Experts say that India will benefit in the export market due to the ongoing shutdown in China and lack of capacity addition in other developed countries.
The proceeds from the new issue will be used to meet the capital expenditure requirements for expansion of the Dowry manufacturing facility of the Company.
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