Tatva Chintan Pharma Chem will launch its Rs 500-crore IPO at a cost cost of Rs 1073-1083 per share. The situation will open on July 16 and close on July 20, 2021. The public situation comprises fresh situation of shares worth Rs 225 crore and present-for-sale (OFS) worth Rs 275 crore by current promoters and shareholders. The situation will open for anchor investors on Thursday, 15 July, one day prior to the opening date for the public present. Equity shares are proposed to be listed on BSE and National Stock Exchange.
Investors can bid for a minimum of 13 equity shares and in multiples thereof. At the upper cost band, they will have to shell out Rs 14,079 to get a single lot. The Tatva Chintan Pharma Chem IPO will have 50 per cent reserved for certified institutional purchasers (QIBs) and 15 per cent will be reserved for non-institutional investors (NIIs). The remaining 35 per cent of the situation will be offered for retail investors. ICICI Securities and JM Financial are the book lead managers to the situation. Link Intime India Private Ltd is the registrar to the situation.
Upon effective listing, Tatva Chintan will join the likes of Aarti Industries, Navin Fluorine, Alkyl Amines Chemicals, Vinati Organics, and Fine Organics Industries. The typical expense of acquisition of equity shares held by the promoting shareholders namely Ajaykumar Mansukhlal Patel, Chintan Nitinkumar Shah, Shekhar Rasiklal Somani, Ajay Mansukhlal Patel HUF, Priti Ajaykumar Patel, Darshana Nitinkumar Shah, Kajal Shekhar Somani, Samirkumar Rasiklal Somani and Shitalkumar Rasiklal Somani is Rs 1.59, Rs 3.06, Rs 2.87, Rs 4, Rs 2.49, Rs 1.11, Rs 2.69, Rs 1.65 and Rs .91, respectively. The weighted typical return on net worth for the last 3 fiscals is 30.75 per cent.
Tatva Chintan Pharma Chem has planned to utilise the net proceeds towards funding the capital expenditure specifications for expansion of Dahej Manufacturing Facility worth Rs 147.1 crore, and funding capital expenditure specifications for upgradation at our R&D facility in Vadodara worth Rs 23.9 crore,and for common corporate purposes.
With various players across the globe and no substantial market place share, the international phase transfer catalyst market place is hugely fragmented in nature. The crucial producers in the Indian market place are Tatva Chintan, Dishman Group, Delta Finochem, Pacific Organics Private Limited, Otto Chemie, TCI Chemicals and a couple of other smaller sized players. Tatva Chintan, Delta Finochem, Dishman group and Pacific Organics Private Limited are the key players in the export market place with Europe being the leader in terms of imports from India. Tatva Chintan is amongst major international producers of an complete variety of Phase Transfer Catalysts in India and one of the crucial producers across the globe. With a development in the Pharmaceuticals and allied sectors, the phase transfer catalyst section will see a massive demand from across the globe.