Tatva Chintan Pharma Chem Ltd IPO STATUS DAY 2: Retail portion SUBSCRIBED 8.24 times—check category-wise share allotment and subscription DETAILS
The specialty chemical company's IPO will close on July 20.
Tatva Chintan Pharma Chem Ltd IPO continues to put up stellar show since after opening on Friday as the issue was subscribed whooping 4.51 times at 11:15 am as on Saturday, July 17. Tatva Chintan Pharma had opened on strong note on Friday as it went on to be fully subscribed within hours of opening. The specialty chemical company's IPO will close on July 20.
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As per the consolidated bid details on the National Stock Exchange (NSE), retail portion of Tatva Chintan Pharma Chem Ltd IPO was oversubscribed 8.24 times during filing of the report. Retail investors made bids for 1,34,46,537 shares against their quota of shares of 16,30,941 allotted by the chemical company.
Qualified Institutional Buyers (QIBs) was yet to be fully subscribed as QIBS made bids for 4,68,143 stocks against available allotted shares of 9,31,966, a 0.50 subscription.
However, Non Institutional Investors made bids for 7,93,975 shares as this section was subscribed 1.14 times.
Tatva Chintan Pharma Chem Ltd IPO Key Details
Symbol - TATVA
Issue Period - 16 July 2021 to 20 July 2021
Post issue Modification Period – 22 July 2021 between 10am and 11 am
Cut-off time for UPI Mandate Confirmation – 22 July 2021 up to 12 pm
Issue Size - Initial Public offer of equity shares aggregating up to Rs 500 cr comprising a fresh Issue of up to Rs 225 cr and an Offer for Sale (OFS) of up to Rs 275 crore
Issue Type – 100 per cent Book Building
Price Range – Rs 1073 to Rs 1083
Face Value - Rs 10
Tick Size - Re 1
Bid Lot 13 equity shares and in multiples thereof
Minimum Order Quantity - 13 equity shares
Maximum Subscription Amount for Retail Investor - Rs 200,000
IPO Market Timings – 10 am to 5 pm
Earlier, Zee Business Managing Editor had recommended subscribe for this issue. Anil Singhvi on Friday 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, " the Market Guru had said.
Retail investors who wish to invest in this issue are required to make payments through UPI mode. All other category of investors shall mandatorily use only Application Supported by Blocked Amount (ASBA) facility for making payments.
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