Tatva Chintan Pharma Chem’s Rs 500-crore initial public offering (IPO) will be priced at Rs 1073-1083 per share. The issue will go on sale on July 16, 2021, and will close on July 20, 2021.
The public offering consists of a fresh issue of Rs 225 crore in shares and a Rs 275 crore offer-for-sale (OFS) by existing promoters and shareholders. The issue will open for anchor investors on Thursday, July 15th, one day before the public offering opens. Proposal of listing equity shares has been sent out by the BSE and the NSE.
For as few as 13 equity shares, investors can place bids. For a single lot, they will have to pay Rs. 14,079 at the top price range. 50% of the shares will be allocated for qualified institutional buyers (QIBs) and 15% for non-institutional investors (NIIs) in the Tatva Chintan Pharma Chem IPO.
Retail investors will be able to purchase the remaining 35% of the issuance. The issue’s book lead managers are ICICI Securities and JM Financial. The issue’s registrar is Link Intime India Private Ltd.
Tatva Chintan will join the ranks of Aarti Industries, Navin Fluorine, Alkyl Amines Chemicals, Vinati Organics, and Fine Organics Industries if it is successfully listed.
The average cost of acquisition of equity shares held by the selling shareholders is Rs.1.59, Rs.3.06, Rs.2.87, Rs.4, Priti Ajaykumar Patel, Darshana Nitinkumar Shah, Kajal Shekhar Somani, Samirkumar Rasiklal Somani, Samirkumar Rasiklal Somani, Samirkumar Rasiklal Somani, Samirkumar Rasiklal Somani, Samirkumar Rasi For the last three fiscal years, the weighted average return on net worth has been 30.75 percent.
The net proceeds would be used to support capital expenditure requirements for expansion of Tatva Chintan Pharma Chem’s Dahej Manufacturing Facility worth Rs.147.1 crore, capital expenditure requirements for up-gradation of our R&D facility in Vadodara worth Rs.23.9 crore, and general corporate purposes.
