Tatva Chintan IPO closes with a bang; subscribed 180X

The early indications were that Tatva Chintan IPO would get comfortably oversubscribed. However, at close on Tuesday, the overall issue got oversubscribed by a solid 180.35 times. The Rs.500 crore IPO of Tatva Chintan consisted of Rs.225 crore of fresh issue and Rs.275 crore offer for sale. As per the combined bid details put out by the BSE on 20 Jun at 5 pm, Tatva Chintan IPO was subscribed 180.35 times, with maximum demand coming from the HNI segment followed by the QIB segment. Here is the final subscription status of Tatva Chintan IPO on 20 July.

Out of the 32.62 lakh shares on offer in the IPO, Tatva Chintan saw applications for 58.83 crore shares. That implies an overall subscription of 180.35X. The granular break-up is more insightful and shows how funded HNI applications flooded on the last day. The QIB portion got subscriptions for 185.23X of the ex-anchor allocation quota, with most applications coming on the last day. The HNI portion got subscribed a whopping 512.22X, with a surge of funded applications on Day-3. The retail portion continued to build on the last day and was 35.34X subscribed at the close of the IPO.

At the close of Day-3, among QIBs, FPIs had bid for 4.28 crore shares, MFs 1.24 crore shares while banks/insurance had bid 7.41 crore shares. Among retail investors; out of the 16.31 lakh shares on offer, valid bids were received for 5.76 crore shares, of which bids for 4.41 crore shares were received at the cut-off price. The HNI portion got applications for 35.8 crore shares of which close to 29.31 crore shares were funded applications. Tatva Chintan is scheduled to list on 29 July.