Tatva Chintan IPO subscribed 180.36 times on final day
The IPO received bids for 58,83,08,396 shares against 32,61,882 shares on offer, as per data available with the NSE
The initial public offer (IPO) of specialty chemical manufacturing company Tatva Chintan Pharma Chem received a massive investor response, getting subscribed 180.36 times on the last day on Tuesday.
The IPO received bids for 58,83,08,396 shares against 32,61,882 shares on offer, as per data available with the NSE. The portion meant for qualified institutional buyers(QIBs) was subscribed 185.23 times, those reserved for non-institutional investors a whopping 512.22 times and retail individual investors(RIIs) quota received 35.35 times subscription.
The company’s initial public offer (IPO) aggregating up to Rs 500 crore comprised a fresh issue of up to Rs 225 crore and an offer for sale of up to Rs 275 crore. Its price range was at Rs 1,073-1,083 per share.
The initial public offer of Tatva Chintan Pharma Chem was fully subscribed within hours of opening on Friday.
Tatva Chintan Pharma Chem on Thursday garnered Rs 150 crore from anchor investors.