IPO Alert: Tatva Chintan Pharma Chem opens on 16 July 2021

The IPO season continues, especially with specialty chemicals manufacturers making a beeline to list on the stock markets. Tatva Chintan Pharma Chem will be the fifth specialty chemical company to hit the markets in the last 12 months. We bring you all the details about this IPO, which is open for subscription from 16 to 20 July.   

Key details

• IPO size: ₹500 crore
• Fresh issue: ₹225 crore
• Price band: ₹1073–₹1083 per share
• Lot size: 13 shares
• Cost per lot: ₹14,079
• Issue opens: 16 July 2021
• Issue closes: 20 July 2021
• Basis of allotment date: 26 July 2021 
• Initiation of refunds: 27 July 2021
• Credit of shares to demat account: 28 July 2021
• Expected listing date: 29 July 2021

About Tatva Chintan Pharma Chem

Established in 1996, Gujarat-based Tatva Chintan Pharma Chem is a specialty chemicals manufacturer with a diverse portfolio of 154 products. The company makes structure directing agents (SDAs), phase transfer catalysts (PTCs), pharmaceutical and agrochemical intermediates. These chemicals are used in various sectors including automotive, petroleum, dyes and pigments, paints and coatings and personal care. 

Tatva Chintan Pharma is an export-oriented company, with 70% of its total revenue coming from overseas markets, including the US, China and South Africa.

The company has reported strong growth over the past three years. Its revenue and net profit have surged at a CAGR of 20.5% and 59.5%, respectively, during FY19–21. 

About the issue

The IPO size is ₹500 crore, with a fresh issue of ₹225 crore, which will be used by the company for capex expansion of the Dahej manufacturing facility and upgradation at the R&D facility in Vadodara. The remaining ₹275 crore is an offer for sale.  

IPO allocation quota

To know more about the IPO, read its red herring prospectus here. The issue opens on 16 July 2021 and you can subscribe to Tatva Chintan Pharma Chem with Upstox here. Meanwhile, we’ll keep you posted on all the updates about this IPO and the public issues that follow, so stay tuned!