Tatva Chintan Pharma Chem IPO: Bidding starts on July 16, price band at ₹1,073-1,083

By Bhakti Makwana

The Gujarat-based speciality chemical company, Tatva Chintan Pharma Chem is set to launch its initial public offering (IPO) with a price band of ₹1,073-1,083 and raise ₹500 crore through the public issue.

The bidding process for the IPO will start on July 16 and close on July 20.

The IPO lot size is 13 shares. The IPO will include ₹225 crore of fresh equity shares by the company and ₹275 crore of offer for sale (OFS) by promoters and shareholders.

The company will utilise the proceeds from the IPO towards expansion of its Dahej manufacturing unit and for upgradation of research and development (R&D) facility in Vadodara.

It manufactures a range of products in specialty chemicals category and serves industries like automotive, petroleum, pharmaceutical, agro chemicals, paints and coatings, dyes and pigments, personal care and flavour and fragrances industries.

The company receives 70% of the revenue from exports to over 25 countries including the USA, China, Germany, Japan, South Africa, and the UK, whereas the rest 30% comes from domestic markets.

Its clients include SRF, Asian Paints, Laurus Laboratories, Bayer, Merck and Divis Laboratories.

The speciality chemical company manufactures 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).

This is the second speciality chemical company to go for an IPO in July after Clean Science and Technology.