Tatva Chintan share price: Listing date today, IPO GMP over 100 per cent

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    Tatva Chintan share price today, Tatva Chintan share listing date


    Tatva Chintan share price today, Tatva Chintan share listing date
    Image Source : TATVACHINTAN.COM

    Tatva Chintan share price: Listing date today, IPO GMP over 100 per cent

    Tatva Chintan Share Price, Tatva Chintan Listing Date and Time: Tatva Chintan Pharma Chem shares will be listed on NSE and BSE today. Tatva Chintan shares are likely to make a strong debut. Tatva Chintan shares in the grey market are commanding a strong premium, signaling a bumper listing.

    Tatva Chintan GMP Today

    The grey market premium of Tatva Chintan Pharma Chem is currently Rs 1,100 over the issue price. This means that Tatva Chintan shares are trading at 100 per cent premium. 

    Tatva Chintan Pharma Chem, a Vadodara-based firm, is a specialty chemical manufacturing company. The IPO was allotted at Rs 1083 per equity share. Accordingly, Tatva Chintan shares are trading at around Rs 2,200 in the grey market ahead of the listing. Tatva Chintan IPO price range was fixed at Rs 1,073-1,083 per share.

    Tatva Chintan received a massive investor response, getting subscribed a whopping 180.36 times. The IPO received bids for 58,83,08,396 shares against 32,61,882 shares on offer. While the portion meant for qualified institutional buyers (QIBs) was subscribed 185.23 times, those reserved for non-institutional investors a whopping 512.22 times and retail individual investors(RIIs) quota received 35.35 times subscription.

    The company’s initial public offer (IPO) aggregating up to Rs 500 crore comprised a fresh issue of up to Rs 225 crore and an offer for sale of up to Rs 275 crore. Tatva Chintan had earlier garnered Rs 150 crore from anchor investors. Tatva Chintan IPO was the second-best IPO so far this year in terms of investor demand after MTAR Technologies’ IPO in March which was subscribed 201 times.

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    Tatva Chintan exports most of its products to over 25 countries, including the US, China, Germany, Japan, South Africa, and the UK. The company will use the proceeds from the fresh issue towards funding capital expenditure requirements for expansion of the company’s Dahej manufacturing facility; up-gradation of a research and development facility in Vadodara, and general corporate purposes.

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