Tatva Chintan Pharma Chem IPO Subscribed Over 15 Times On 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 the 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 15.19 times as of 5:00 p.m. on July 19.

• Institutional investors: 1.98 times

• Non-institutional investors: 12.32 times

• Retail investors: 23.96 times

Research Reports On Tatva Chintan IPO

• Diversified Portfolio, Expansion Plan To Drive Profitability: ICICI Direct

• Strong R&D Capabilities, Robust Financial Performance: KRChoksey

• Robust Financials, Expansion Plans, Wide Product Portfolio: Motilal Oswal

• Strengths, Strategies, Risks: Anand Rathi