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Tatva Chintan Pharma Chem Ltd IPO

Closed
Subscription Details
  • Open Date 16 Jul
  • Close Date 20 Jul
  • Lot Size 13
  • IPO Size ₹ ₹ 500.00 - 504.66 Cr
  • IPO Price Range ₹ 1073-1083
  • Min Investment ₹ 13949
  • Listing Exchange NSE, BSE

Tatva Chintan Pharma Chem Ltd IPO Timeline

Open Date
16 Jul
Close Date
20 Jul
Basis of Allotment
26 Jul
Refunds
27 Jul
Credit to Demat Account
28 Jul
Listing Date
29 Jul

IPO Synopsis

Offer Details:
The offer consists of Fresh Issue of Equity Shares aggregating upto ₹225 Crore and Offer for sale of Equity Shares aggregating upto ₹ 275Cr.
 

Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  1. Funding capital expenditure requirements for expansion of our Dahej Manufacturing Facility;
  2. Funding capital expenditure requirements for upgradation at our R&D facility in Vadodara; and
  3. General corporate purposes.

 

Tatva Chintan Pharma Chem Shareholding 

% Shareholding

Pre-IPO

Post-IPO

Promoter & Promoter  Group

100.00

79.17

Public

-

20.83

Source:RHP

Tatva Chintan Pharma Chem Ltd IPO Subscription Status

Tatva Chintan Pharma Chem IPO Subscription Status

Category Subscription Status
Qualified Institutional (QIB) 185.23 Times
Non-Institutional (NII) 512.22 Times
Retail Individual 35.35 Times
Total 180.36 Times

 

Tatva Chintan Pharma Chem IPO Subscription Details (Day by Day)

Date QIB NII Retail Total
July 16, 2021 17:00 0.50x 1.14x 8.24x 4.51x
July 19, 2021 17:00 1.97x 12.21x 23.74x 15.05x
July 20, 2021 13:00 185.36x 512.22x 35.35x 180.36x

About Tatva Chintan Pharma Chem Ltd

Tatva Chintan Pharma Chem Limited is a specialty chemicals manufacturing company engaged in the manufacture of a diverse portfolio of structure directing agents (“SDAs”), phase transfer catalysts (“PTCs”), electrolyte salts for super capacitor batteries and pharmaceutical and agrochemical intermediates and other specialty chemicals (“PASC”). 

The company is the largest and only commercial manufacturer of SDAs for zeolites in India. It also enjoys the second largest position globally. (Source: F&S Report) In addition, Tatva Chintan Pharma Chem is one of the leading global producers of an entire range of PTCs in India and one of the key producers across the globe. (Source: F&S Report). Considering the wide application of our products, the company serve customers across various industries, including the automotive, petroleum, pharmaceutical, agro chemicals, paints and coatings, dyes and pigments, personal care and flavour and fragrances industries. Apart from the company’s customers in India, it also export our products to over 25 countries, including the USA, China, Germany, Japan, South Africa, and the UK. During the Fiscals ended March 31, 2019, 2020, and 2021, exports of products amounted to ₹ 1,435.19 million, ₹ 2,020.20 million and ₹ 2,119.92 million, which accounted for 69.57%, 76.74%, and 70.58%, of our revenue from operations, respectively.

Tatva Chintan Pharma Chem Ltd Promoter Holding

No data Available

Particulars (Rs Cr)

FY19

FY20

FY21

Revenue from Operations

206

263

300

PAT

21

38

52

Total Assets

188

249

315

Source: RHP


Competitive Strengths:

Leading manufacturer of structure directing agents and phase transfer catalysts, with consistent quality

With very few players in the Indian and global market, Tatva Chintan is the largest and only commercial manufacturer of SDAs for zeolites in India. It also enjoys the 2 nd largest position globally. Their strategically located manufacturing facilities and robust and technically sound R&D capabilities have enabled them to maintain the quality of their products. Their large manufacturing capacity, consistent growth, experienced management, global footprint, and high-quality products make them a reliable supplier of SDAs and PTCs.

Company’s key chemistries and products are gaining importance in the global market. The global production of tetramethyl ammonium hydroxide was valued at around USD 1.2 billion in 2019. Having multiple applications, to inhibit nanoparticle aggregation, the tetramethyl ammonium hydroxide market is expected to grow at over 7% CAGR through 2020-25F with Korea and China dominating the market. However, with just 2-3 players in the domestic market, Tatva Chintan stands an opportunity to expand and explore the global market. The SDA market remains highly consolidated with a handful of players operating at the global level. Opportunities in the automotive industry continue to grow, as compliance with the regulations regarding the emission control in commercial vehicles becomes a mandate worldwide. The company has managed to build a market for itself in India and across the globe with its in-depth knowledge of the chemistry. On a domestic level, the company is the only manufacturer in India. They have developed their technology to ensure production of high purity SDAs with PPM level of impurities.

Global presence with a wide customer base across various industries having high entry barriers:

Tatva Chintan supply their products to customers in India and export their products to over 25 countries, including the USA, China, Germany, Japan, South Africa and the UK. During the Fiscals ended March 31, 2019, 2020 and 2021, exports of products accounted for 69.57%, 76.74% and 70.58% of their revenue from operations, respectively.

The varied applications for their product portfolio have helped them build a wide customer base across many sectors. Of their entire customer base as of March 31, 2021, 46.86% of these customers have been their customers for less than 5 years and 53.14% of these customers have been their customers for over 5 years.

Diversified specialised product portfolio requiring strong technical know-how:

Tatva Chintan has, over the years, diversified, expanded, and evolved their operations into manufacturing of pharmaceutical and agrochemical intermediates and other specialty chemicals, which have diverse applications across various industries.

As of March 31, 2021, they offered 47 products under their SDA product portfolio, 48 products under the PTC product portfolio, 6 products under the electrolyte salts for super capacitor batteries portfolio and 53 products under their PASC portfolio.

Risk:

  • The continuing impact of the outbreak of the COVID-19 could have a significant effect on the company’s operations, and could negatively impact the business, revenues, financial condition and results of operations.
  • Increase in the cost of raw materials could have a material adverse effect on company’s results of operations and financial conditions.
  • The company derive a significant portion of the revenue from a few customers and the loss of one or more such Customers will affect the financial performance.
     

Key IPO Details

Particulars

Key IPO Dates

Particulars

Nature of issue

Book Building

Issue Opens on

16-Jul-2021

Face value of share

Rs.10 per share

Issue Closes on

20-Jul-2021

IPO Price Band

Rs.1,073 - Rs.1,083

Basis of Allotment date

26-Jul-2021

Market Lot

13 shares

Refund Initiation date

27-Jul-2021

Retail Investment limit

14 Lots (182 shares)

Credit to Demat

28-Jul-2021

Retail limit - Value

Rs.197.106

IPO Listing date

29-Jul-2021

Fresh Issue Size

Rs.225 crore

Pre issue promoter stake

100%

Offer for Sale Size

Rs.275 crore

Post issue promoters

79.17%

Total IPO Size

Rs.500 crore

Indicative valuation

Rs.2,400 crore

Listing on

BSE, NSE

HNI Quota

15%

QIB Quota

50%

Retail Quota

35%

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  • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
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Contact Details of Tatva Chintan Pharma Chem Ltd IPO

Contact Information

Address

Tatva Chintan Pharma Chem Ltd
Plot No. 502 / 17, GIDC Estate, Ankleshwar,
Bharuch, Gujarat - 393002, India


Phone: +91 75730 46951
Email: cs@tatvachintan.com
Website: http://www.tatvachintan.com/

Tatva Chintan Pharma Chem Ltd IPO Register

Address

Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083

Phone: +91-22-4918 6270
Email: tatva.ipo@linkintime.co.in
Website: https://www.linkintime.co.in

Tatva Chintan Pharma Chem Ltd IPO Lead Manager

  • ICICI Securities Limited
  • JM Financial Consultants Private Limited

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