Tatva Chintan IPO share allotment expected today, check your application status here

Tatva Chintan IPO share allotment expected today, check your application status here

Specialty chemicals company Tatva Chintan Pharma Chem is expected to finalise the IPO share allotment today, July 26.

Its Rs 500-crore public issue received overwhelming response from investors as it was oversubscribed by 180.36 times during July 16-20, the second highest subscription in 2021 after MTAR Technologies.

Non-institutional investors have put in bids 512.22 times their reserved portion, while the portion set aside for qualified institutional buyers was subscribed 185.23 times and that of retail 35.35 times.

The offer comprised a fresh issue of Rs 225 crore and an offer for sale of Rs 275 crore by existing selling shareholders. The net proceeds from fresh issue will be utilised for expansion of Dahej manufacturing facility; upgradation of R&D facility in Vadodara; and general corporate purposes.

The company will finalise the IPO share allotment on July 26, as per the schedule provided in the prospectus. The allotment can be checked either on BSE website or IPO registrar.

On the IPO registrar website, which is Link Intime, investors have to first select company name – Tatva Chintan Pharma Chem Limited, in the dropdown menu in the Select company field. Then choose between PAN Number or Application Number or DP/Client ID or Account No/IFSC. After adding the details of the opted document, click on Submit to know the application status.

On the BSE website, one has to first select Equity in the Issue type field. In the Issue Name field, select Tatva Chintan Pharma Chem. Then enter your Application Number and PAN Number, and finally click on the Search button.

After the allotment, Tatva Chintan will refund money to ineligible investors around July 27 and will credit equity shares to eligible investors’ demat accounts on July 28.

And finally the shares will make a debut on July 29.

In the grey market, the shares were available at a premium of Rs 1,000, the IPO Watch data showed. This resulted into a price of Rs 2,083, a 92.3 percent premium over issue price of Rs 1,083 per share.

Tatva Chintan is a specialty chemicals manufacturing company engaged in the manufacture of a diverse portfolio of structure directing agents (SDAs), phase transfer catalysts (PTCs), electrolyte salts for super capacitor batteries and pharmaceutical and agrochemical intermediates and other specialty chemicals (PASC).

It is the largest and only commercial manufacturer of SDAs for zeolites in India. It also enjoys the second largest position globally. In addition, it is one of the leading global producers of an entire range of PTCs in India and one of the key producers across the globe.

Source: https://www.moneycontrol.com/news/business/ipo/tatva-chintan-ipo-share-allotment-expected-today-check-your-application-status-here-7221131.html

Nysha Varshney

Naysha Varshney is an editor at Economy News. She covering finance and personal finance-related news.

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