Tatva Chintan Pharma Chem created new records after it was learned that it was subscribed 180.34 times. The Tatva Chintan IPO which was available on a price band of 1073-1083 subscribed fully in just 70 minutes after opening. This was a new record created and all the initial thoughts that Zomato’s IPO will have a better response was put to rest.
The Grey Market Premium for the share is running around 750 per share. Since the retail participation has increased, it is evident that IPO seems to be a more preferred bet for the investors as all the recent listings like Clean Science, GR Infra, and India Pesticides are all doing well. Zomato was a known name but
Tatva Chintan which has its plant in Gujarat’s cities like Ankleshwar and Dahej was not a known commodity. Thanks to business channels as they have made people aware of the company’s Know-How. All the analysts in one voice termed this IPO as the best bet and this was it for the investors to go all guns for this IPO. It is expected that it will be one of those IPOs that will have 100% appreciation during the listing. People these days are not fascinated by listing gains of 30-40%. Due to such a high subscription, the chances of getting this IPO are quite slim. If you are the lucky one you will know it by Friday.
Markets have corrected but this won’t have any impact the Tatva Chintan’s IPO is what experts expect and hope they remain right. The IPO size was 500 crores and a bid of a minimum of 13 shares is what was offered for retail investors. The company has launched IPO to expand its facilities at Dahej’s manufacturing unit and also upgrade its R&D facilities at Vadodara.