Tatva Chintan Pharma IPO to open this week. Issue price, date, other details here

Tatva Chintan Pharma Chem issue will open on 16 July and close on 20 July. Photo: iStock

2 min read . Updated: 13 Jul 2021, 01:06 PM IST Livemint

Proceeds from the issue will be used for funding expansion of its Dahej manufacturing facility and upgradation at its R&D facility in Vadodara

Gujarat-based Tatva Chintan Pharma Chem Ltd's initial public offering (IPO) issue is set to open this week on Friday i.e., 16 July and will close on 20 July. The bidding for anchor investors will open on July 15. The company has fixed a price band of ₹1,073-1,083 per share for its public offering.

It has received approval from the market regulator Sebi to launch its ₹500 crore IPO. The offer size is ₹500 crore, of which the company will issue fresh equity shares worth ₹225 crore and offer for sale by promoters and shareholders worth ₹275 crore.

50% shall be available for allocation on a proportionate basis to qualified institutional buyers (QIBs). Also, not less than 15% of the offer will be available for non-institutional bidders whereas the rest will be available for the retail investors, as per its IPO details.

ICICI Securities, JM Financial are the book lead managers to the issue whereas Link Intime India is the registrar to the offer.

Proceeds from the issue will be used for funding expansion of its Dahej manufacturing facility and upgradation at its R&D facility in Vadodara.

Tatva Chintan is a specialty chemical manufacturing company engaged in the manufacture of 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.

As of December 2020, the company had an installed production capacity of 280 KL and 13 assembly lines at its manufacturing facilities. Pursuant to the proposed expansion, it intends to enhance the installed capacity at its manufacturing facilities by 200 KL and 14 assembly lines. For fiscal 2020, the company reported a revenue of ₹263.24 crore against ₹206.31 crore a year ago. Net profit stood at Rs37.79 crore versus ₹20.54 crore.

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