Tatva Chintan Pharma Chem's IPO Is Second-Most Subscribed Issue Of 2021

An employee holds a glass flask in a research laboratory. (Photographer: Krisztian Bocsi/Bloomberg)

Tatva Chintan Pharma Chem's IPO Is Second-Most Subscribed Issue Of 2021

The initial public offering of Tatva Chintan Pharma Chem Ltd. witnessed strong investor interest on the final day of subscription, making it the second-most subscribed issue of the year so far.

The Gujarat-based company's Rs 500-crore issue was subscribed over 182 times at the end of the third day, helping it overtake Nazara Technologies' IPO which was subscribed 175.46 times. Demand from non-institutional investors was extremely robust, while the portion reserved for institutional counterparts subscribed nearly 187 times.

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.

Also read: Tatva Chintan Pharma Chem IPO: All You Need To Know

Subscription Details: Day 3

The IPO was subscribed 182.04 times as of 5:00 p.m. on July 20.

  • Institutional investors: 186.96 times

  • Non-institutional investors: 516.99 times

  • Retail investors: 35.68 times

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