Tatva Chintan Pharma Chem Limited IPO Detail
Incorporated in 1996, Tatva Chintan Pharma Chem Limited is a chemical manufacturing company that manufactures structure directing agents (SDAs), phase transfer catalyst (PTCs), pharmaceutical and agrochemical intermediates, and other specialty chemicals. It is among the largest manufacturer of SDAs for zeolites in India.
The company serves customers across industries i.e. automotive, petroleum, agrochemicals, dyes and pigments, paints and coatings, pharmaceutical, personal care, and others. Its products are not only sold in India but also export to 25+ countries all over the world such as the USA, Germany, South Africa, China, and the UK. In FY 2020, total export contributed to 76% of total revenue from operations.
Merck, Bayer AG, Ipox Chemicals, Laurus labs, Navin Fluorine International Limited, Atul Limited, Otsuka Chemicals, SRF Limited, Hawks Chemical Company, Firmenich Aromatics Prod Pvt Ltd, and Divi's laboratories are a few of customers of the company. Currently, it has two manufacturing facilities at Ankleshwar and Dahej in Gujarat.
Competitive strengths
- Leading manufacturer of structure directing agents and phase transfer catalyst.
- Diversified product portfolio.
- Global market presence with customer base across industries.
- Strategically located manufacturing facility in Gujarat with close proximity to Hazira Port.
- Experienced promoters and managers team.
- Strong financial performance track record.
Company Promoters
Ajaykumar Mansukhlal Patel, Chintan Nitinkumar Shah, and Snehkar Rasiklal Somani are the company promoters.IPO Details
| IPO Opening Date | Jul 16, 2021 |
| IPO Closing Date | Jul 20, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹1073 - 1083 per equity share |
| Market Lot | 13 Shares |
| Min Order Quantity | 13 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹500 Cr |
| Fresh Issue | [.] Eq Shares of ₹10 (aggregating up to ₹225.00 Cr) |
| Offer for Sale | [.] Eq Shares of ₹10 (aggregating up to ₹275.00 Cr) |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.50x | - | - | 1.14x | 8.24x | 4.51x |
| Day 2 | 1.97x | - | - | 12.21x | 23.75x | 15.05x |
| Day 3 | 185.23x | - | - | 512.22x | 35.35x | 180.36x |
IPO Tentative Timetable
The Tatva Chintan Pharma Chem Limited IPO open date is Jul 16, 2021, and the close date is Jul 20, 2021. The issue may list on Jul 29, 2021.
| IPO Open Date | Jul 16, 2021 |
| IPO Close Date | Jul 20, 2021 |
| Basis of Allotment Date | Jul 26, 2021 |
| Initiation of Refunds | Jul 27, 2021 |
| Credit of Shares to Demat Account | Jul 28, 2021 |
| IPO Listing Date | Jul 29, 2021 |
IPO Lot Size
The Tatva Chintan Pharma Chem Limited IPO market lot size is 13 shares. A retail-individual investor can apply for up to 14 lots (182 shares or ₹197106).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 13 | ₹14079 |
| Maximum | 14 | 182 | ₹197106 |
Company Financials:
For the year/period ended (₹ in Crs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Dec-20 | 275.98 | 195.03 | 31.14 |
| 31-Mar-20 | 248.93 | 264.62 | 37.78 |
| 31-Mar-19 | 187.50 | 206.80 | 20.54 |
| 31-Mar-18 | 143.71 | 137.28 | 12.28 |
Objects of the Issue:
- Funding capital expenditures requirements for expansion of Dahej manufacturing facility.
- Funding capital expenditures requirements to upgrade R&D facilities in Vadodara.
- To meet general corporate purposes.
