Tatva Chintan GMP Rises 98% Before IPO Share Allotment

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Tatva Chintan GMP Rises 98% Before IPO Share Allotment

By Aditya Raghunath

Investing.com -- The grey market premium (GMP) for Tatva Chintan Pharma has risen by 98% to Rs 1,060 ahead of its share allotment that is scheduled for July 26.

The grey market is clearly very bullish on the IPO and expects a very strong listing for the stock. Tatva Chintan’s issue price on the higher end is Rs 1,083 a share.

Tatva Chintan is a specialty chemicals company and is one of the largest manufacturers of structure directing agents (SDAs) in India. It also manufactures phase transfer catalysts (PTCs), pharmaceutical and agrochemical intermediates, and other specialty chemicals.

Apart from India, its products are exported to 25 countries across the world including USA, Germany, South Africa, China, and the UK. An IPO note by HDFC (NS: HDFC ) Securities said, “During the Fiscals ended March 31, 2018, 2019 and 2020, and in the nine months ended December 31, 2020, exports of products accounted for 64.99%, 69.57%, 76.74% and 70.72%, of its revenue from operations, respectively.”

It counts companies like Merck (NS: PROR ), Bayer AG (DE: BAYGN ), Ipox Chemicals, Laurus labs, Navin Fluorine International Limited, Atul Limited, Otsuka Chemicals, SRF (NS: SRFL ) Limited, Hawks Chemical Company, Firmenich Aromatics Prod Pvt Ltd, and Divi's laboratories among its customers.

Tatva Chintan has grown its revenue at a CAGR (compounded annual growth rate) of 21.7% during the last three fiscals, from Rs. 2,068.01 million in FY19 to Rs. 3,062.92 million in FY21.

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  • Sachin Singh @Sachin Singh
    When is the fall expected for market ?
    Like 1
    • NAPPY GULABI @NAPPY GULABI
      @Sachin Singh THE SAME TIME YOUR MOTHER WILL FALL ON MY DAS GLIED
      Like 0
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  • Pradhyuman Singh @Pradhyuman Singh
    When is the allotment of tatva chintan
    Like 0
    • Ashish Kumar @Ashish Kumar
      26 july
      Like 0
    • Annu Saraogi @Annu Saraogi
      time
      Like 0
    • Mohit Sharma @Mohit Sharma
      at night
      Like 0
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  • Ajay Uppal @Ajay Uppal
    Market ready for big fall. 15000 level coming soon. Hangseng corrected 3% and China down 5%.
    Like 2
    • NIRAV JARIWALA @NIRAV JARIWALA
      kab
      Like 1
    • Vineeth Venkiteswaran @Vineeth Venkiteswaran
      This was because of regulatory authority crackdown in China
      Like 0
    • Vineeth Venkiteswaran @Vineeth Venkiteswaran
      S&P still around 4400
      Like 0
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