Tatva Chintan Pharma Chem Ltd IPO Listing TODAY: What SUBSCRIBERS should expect? Check what Anil Singhvi said about LISTING GAINS
The IPO was a huge success with over 180 times subscription on the last day of closing of the issue
Tatva Chintan Pharma Chem Ltd IPO will be listed on bourses today, July 29, 2021. The IPO was a huge success with over 180 times subscription on the last day of closing of the issue. The issue had closed on Tuesday (20 July).
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The portion meant for qualified institutional buyers(QIBs) was subscribed 185.23 times, those reserved for non-institutional investors a whopping 512.22 times and retail individual investors (RIIs) quota received 35.35 times subscription.
The Price Range of the equity shares was kept Rs 1073 to Rs 1083. This public issue comprised of equity shares aggregating up to Rs 500 cr out of which there is a fresh Issue of up to Rs 225 cr and an Offer for Sale (OFS) of up to Rs 275 crore. The issue type is 100 per cent Book Building.
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Zee Business Managing Editor Anil Singhvi had said that investors should consider putting their money in this IPO. " Tatva Chintan Pharma Chem Ltd is from chemical space and there is huge action in this sector these days. Everyone is liking this space. Most of the things with the company is good, hence I will recommend one should consider subscribing to this issue. One could apply in this IPO for both good listing gain and with the long-term objective."
"It's an old company with experienced promoters. Also, the company promises good growth outlook with recent capex. This Rs 500 crore issue will further strengthen Tatva Chintan Pharma Chem Ltd's capex. The best thing despite Capex is that the company is cash-rich and has less debt, which also infuses confidence in the company. It is available at attractive valuation in comparison to other companies in this segment. The company has ensured that investors make money with this IPO as it has kept the valuation reasonable. The company has good growth track in the last three years and also holds promise in the future as far as its growth is concerned," Singhvi had said on earlier occasion.
Meanwhile, In other developments, there will be action seen in Tech Mahindra, Colgate, Concor, Deepak Nitrate, Indus Tower, LIC Housing, TVS Motor and PVR. These companies will present their quarterly result on Thursday.
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