Tatva Chintan IPO Gray Market Premium, Allotment Standing, Itemizing Date

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Tatva Chintan Pharma Chem Ltd noticed its Rs 500-crore preliminary public providing (IPO) open on July 16 and shut on July 20. In that time-frame, the huge concern was subscribed 180.36 instances as per info on Chittorgarh. The IPO was subscribed a complete of 35.5 instances within the retail class, 185.23 instances within the certified institutional purchaser (QIB) class and 512.22 instances within the non-institutional investor (NII) class. These subscription numbers got here to be round 17:00 pm on July 20, 2021, because the Tatva Chintan IPO buying and selling got here to a detailed.

The Gray Market Premium (GMP) for Tatva Chintan Pharma Chem as we speak is at Rs 900. This indicated that shares on the gray market are buying and selling at Rs 1,973 to Rs 1,983 per share. That is round 83 per cent greater than the value band of Rs 1073 to Rs 1083 per fairness share that was listed for the IPO. When the corporate opened its IPO to the market on 16 July, it began on the gray market at a decrease Rs 600. This noticed an upward pattern as the value hit Rs 730 in direction of the final day of bidding. On Wednesday the value hit Rs 775, due to a wholesome IPO shut, in line with a report by the Mint.

In line with the Crimson Herring Prospectus (RHP) that Tatva Chintan Pharma Chem filed, the general public concern is most probably going to see an allotment date of July 26, 2021, whereas the shares are set to be credited to profitable bidders on July 28. The itemizing is most probably going to be on July 29 as per reviews. The IPO is ready to be listed on the Bombay Inventory Trade (BSE) and the Nationwide Inventory Trade (NSE) on the given date and traders can view their allotment standing there.

The IPO allotment standing will not be at present accessible as the method to share that knowledge takes six working days from the shut of the IPO. As soon as the info is launched, nevertheless, the IPO allotment standing may be checked on the BSE and the Registrar’s web site earlier than the date of itemizing. The Registrar is accountable for the allotment and refunding course of.

The corporate had allotted a complete of three,261,882 shares. From these shares, 931,966 have been allotted for the QIBs, 698,975 shares got to the NIIs and the retails section received an allotment of 1,630,841 shares.

Tatva Chintan Pharma Chem Restricted was began in 1996. It’s a chemical manufacturing firm and stands as one of many main world producers of part switch catalysts (PTCs) in India. It manufactures different chemical substances akin to structure-directing brokers (SDAs), pharmaceutical and agrochemical intermediates, and different specialty chemical substances.

Pushed by the upper gross sales from SDAs and PASCs, the corporate’s income grew at 21 per cent CAGR over FY19-21. PAT progress stood at 60 per cent CAGR throughout this similar interval. The corporate has a wholesome steadiness sheet place with decrease D/E ratio of 0.54x as of FY21. Its RoE stands at a powerful 32 per cent in FY21.

Hemang Kapasi, Head of Equities, Sanctum Wealth Administration mentioned, “Tatva Chintan Pharma Chem Restricted is a distinct segment speciality chemical manufacturing firm and is the most important and solely industrial producer of SDAs (construction directing brokers) for zeolites in India. It additionally enjoys the second-largest place globally. As well as, the corporate is among the main world producers of a whole vary of PTCs (part switch catalyst) in India and one of many key producers throughout the globe. Additionally they manufacture electrolyte salts for tremendous capacitor batteries and pharmaceutical and agrochemical intermediates and different specialty chemical substances (PSACs). Aside from prospects in India, the corporate additionally exports merchandise to over 25 international locations, together with the US, China, Germany, Japan, South Africa, and the UK accounting to ~70% of revenues. As on March 31, 2021, it manufactured over 154 merchandise.”

“The Firm is effectively positioned to seize the expansion is specialty chemical substances area, because it provides options by inexperienced chemistry functions by its management place within the given segments and are succesful to supply new merchandise by enhanced thrust on R&D functionality. The monetary numbers provide credence with Income / EBITDA/ PAT CAGR of ~21%/39%/60% over FY19-21 and return ratios in extra of 20%,” added Kapasi.

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