Tatva Chintan Pharma IPO: The IPO consists of a fresh problem of shares worth 225 croreTatva Chintan Pharma's 500 crore going public (IPO) was subscribed 4.51 times on the first day of its problem today, according to subscription information on the exchanges.
The IPO of the specialized chemical business opened for investors on Friday, July 16, and will close on July 20.
The portion booked for retail individual investors was subscribed the most today, while qualified institutional buyers showed warm interest.
(Also Read: Tatva Chintan Pharma IPO Opens Today; Here Are Things To Know )The portion scheduled for retail financiers in the IPO was subscribed 8.24 times by 5:00 pm today - the greatest amongst the three groups of financiers.
The part set aside for the certified institutional buyers (QIB) was subscribed 0.50 times, while the part booked for non-institutional investors (NII) was subscribed 1.14 times.The IPO consists of a fresh problem of shares worth 225 crore and an offer of sale aggregating to 225 crore by the existing promoters and investors.
The shares are provided in the price band of 1,073-1,083 per share.
Financiers can obtain a minimum one lot of 13 shares and in multiples thereafter, extending as much as an optimum of 14 lots.Leading domestic brokerage company Motilal Oswal maintained a 's ubscribe' score for the IPO.
The company is expected to witness strong growth for next 2-3 years offered its expansion strategies.
It is well put to tap chance in the fast growing specialty chemical area with increasing concentrate on green chemistry by leveraging its strong R-D capabilities.The issue is valued at 45.9 x FY21 P/E on post concern basis, which appears reasonable compared to peers (avg.
P/E of 59x), as it takes pleasure in greater profits growth.
We suggest subscribe, said Motilal Oswal in its IPO note.