MUMBAI: The ₹500-crore initial public offering (IPO) of speciality chemicals manufacturer Tatva Chintan Pharma Chem was subscribed 182.04 times on the final day of bidding. The portion reserved for retail investors was subscribed 35.68 times, non-institutional investors' portion was subscribed 516.99 times, while that set aside for qualified institutional buyers was subscribed 186.96 times. Brokerage firm KR Choksey, in an IPO note, said, "Tatva Chintan has recorded strong growth in terms of revenues and profitability in recent years. Last week, Tatva Chintan Pharma Chem raised ₹150 crore from 22 anchor investors. “Tatva Chintan Pharma Chem Ltd. (TCPCL) 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: Mint July 20, 2021 12:45 UTC