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This article is more than 1 month old.

Tatva Chintan makes strong debut, shares list at 95% premium over issue price

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On BSE, the share price of the speciality chemical company almost doubled to Rs 2111.80 per share after listing, a premium of 95 percent to the issue price. 

Tatva Chintan makes strong debut, shares list at 95% premium over issue price
Tatva Chintan made a strong debut on stock exchanges on Thursday, with its shares listing at Rs 2,111.85 on NSE, a premium of 95 percent over its issue price of Rs 1,083 apiece.
On BSE, the share price of the specialty chemical company opened at Rs 2,111.80 apiece, a premium of 95 percent over the issue price. Its market cap soared to Rs 4,680.82 crore after listing.
At 10:20 am, the Tatva Chintan stock was trading 10.56 percent above the listing price on BSE.
The strong demand from investors was on the back of the company's strong fundamentals, healthy financials and return ratios, leading position in manufacturing of structure-directing agents and a high-quality product portfolio.
The grey market had indicated this grand listing on Tuesday when its shares were trading at over 100 percent premium.
The Tatva Chintan IPO, which was open for subscription from July 16 through July 21, saw subscription of 180.36 times.
The portion reserved for retail investors was booked 35.35 times and that reserved for the qualified institutional buyers was booked 185.23 times. The non-institutional investors was booked 512.22 times.
Tatva Chintan is one of the major players in the specialty chemicals segment with its broad range of products. It is engaged in manufacturing a variety of catalysts, disinfectants, agro and pharmaceutical intermediates, among other products. It has a good product mix with products in sectors like agro-chemicals, pharma, and personal care.
The company plans to utilise the proceeds from the IPO for expansion of the Dahej manufacturing facility and to upgrade the R&D facility in Vadodra.