Tatva Chintan IPO share allotment expected today.How to check application status

Tatva Chintan Initial Public Offering: Following the allotment, Tatva Chintan will return money to ineligible investors on July 27 and credit equity shares to qualifying investors’ demat accounts on July 28.

Specialty chemicals company Tatva Chintan Pharma Chem is expected to finalise the IPO share allotment today, July 26.

Investors flocked to its Rs 500-crore public offering, which was 180.36 times oversubscribed between July 16 and July 20, the second largest subscription in 2021 after MTAR Technologies.

Non-institutional investors have bid 512.22 times their reserved portion, while qualified institutional purchasers’ portion has been subscribed 185.23 times, and retail has been 35.35 times.

The offer included a Rs 225 crore new issue and a Rs 275 crore offer for sale by existing selling shareholders. The net proceeds from the new issuance will be used to expand the Dahej manufacturing site, upgrade the Vadodara R&D centre, and for general business reasons.

How to check application status

According to the prospectus’ timeline, the company will complete the IPO share allotment on July 26. The allotment can be verified on the BSE website or through the IPO registrar.

On the IPO registrar website, which is Link Intime, investors have to first select company name – Tatva Chintan Pharma Chem Limited, in the dropdown menu in the Select company field. Then choose between PAN Number or Application Number or DP/Client ID or Account No/IFSC. After adding the details of the opted document, click on Submit to know the application status.

On the BSE website, To begin, select Equity from the Issue type drop-down menu. Select Tatva Chintan Pharma Chem in the Issue Name area. Then, after entering your Application Number and PAN Number, hit the Search button.

Tatva Chintan will return money to ineligible investors on July 27 and credit equity shares to qualifying investors’ demat accounts on July 28 following the allotment.

Finally, on July 29, the shares will go public.

According to IPO Watch data, the shares were available in the grey market at a premium of Rs 1,000. This resulted in a price of Rs 2,083, which is 92.3 percent more than the issue price of Rs 1,083 per share.

Tatva Chintan is a speciality chemicals firm that produces a wide range of products such as structure directing agents (SDAs), phase transfer catalysts (PTCs), electrolyte salts for super capacitor batteries, pharmaceutical and agrochemical intermediates, and other specialty chemicals (PASC).

It is India’s largest and only commercial producer of SDAs for zeolites. It is also the world’s second-largest country. Furthermore, it is one of the major global makers of a wide range of PTCs in India, as well as a prominent producer globally.

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