Tatva Chintan Pharma IPO subscription: Day 1

Tatva Chintan Pharma IPO has been opened to investors for subscription on 16 July 2021. It received a strong response right off the bat, especially from the retail investors. The shares allotted for the retail section were subscribed within two hours of the first bidding day.

As of 5 pm, this specialty chemical manufacturing company’s issue was subscribed 4.50x times. As per the data compiled by the stock exchanges, this company received a subscription application for 1,46,85,125 shares, and 32,61,882 were reserved from the lot.

IPO subscription status on Friday

The retail investor and qualified institutional buyer portions were subscribed 8.23x times and 0.50x times, respectively. Additionally, the non-institutional investor portion was subscribed 1.13x times.

Anchor investment

Tatva Chintan Pharma has managed to generate Rs. 149.99 crores shares from its 22 anchor investors right before its initial public offering. The specialty chemical manufacturing company decided to allocate 13,85,040 shares to its anchor investors. Each share was priced at Rs. 1083. Notably, JM Financial and ICICI Securities are the book lead managers to this IPO.

Some of the noteworthy anchor investors of this company are as follows –

Marquee global investors

• Goldman Sachs
• HSBC Global
• Nomura
• Abu Dhabi Investment Authority
• Aberdeen Standard Asia

Domestic investors

• SBI MF
• Axis MF
• Nippon Life
• HDFC Trustee
• ICICI Prudential
• SBI Life Insurance
• Aditya Birla Sun Life

Final takeaway

The Day 1 of the Tatva Chintan IPO emerged as a success. However, it is too soon to seal the fate of this issue. This company’s IPO will close for subscription on 20 July 2021, Tuesday, with a range of Rs. 1073 – Rs. 1083 per share.

The company plans to use proceeds from this initial public offering to fund its CAPEX requirements and expand its Dahej manufacturing unit, and upgrade the R&D facilities in Vadodara.

Frequently Asked Questions

1. What is Tatva Chintan Pharma IPO?

Tatva Chintan IPO’s issue size is worth Rs. 500 crores. It comprises fresh issues amounting to Rs. 225 crores and offers for sale worth Rs. 275 crores.

2. Where can investors check the allotment status of Tatva Chintan Pharma IPO?

Investors can check the share allotment status of Tatva Chintan Pharma IPO by visiting the official website of Link Intime India.

3. When will the shares becredited to DEMAT accounts?

The allotted shares will be credited to investors’ DEMAT account on 28 July 2021.

4. When will refunds be processed?

The process of refund will begin on 27 July 2021.