Tatva Chintan Pharma Chem IPO Subscription Status: Day 2

The Rs 500-crore initial public offering of Tatva Chintan Pharma Chem Ltd. witnessed strong retail investor interest on the second day of subscription as well. Demand from non-institutional counterparts, too, picked up.

The Gujarat-based company's issue was subscribed more than four times on its first day.

The specialty chemical maker’s maiden offer comprises a fresh issue of Rs 225 crore and an offer-for-sale by the promoter group for Rs 275 crore, according to its red herring prospectus. The price band has been fixed at Rs 1,073-1,083 apiece. The IPO will close on July 20.

Subscription Details: Day 2

The IPO was subscribed 10.38 times as of 2:04 p.m. on July 19.

• Institutional: 0.52 times

• Non-institutional: 5.50 times

• Retail: 18.10 times

Research Reports On Tatva Chintan IPO