Tatva Chintan Pharma Chem IPO
Tatva Chintan Pharma Chem IPO — date, price band, lot size & details 2021
Tatva Chintan Pharma Chem listed on 29 Jul 2021 at ₹2,111.85, 95% above the ₹1,083 issue price.
Tatva Chintan Pharma Chem makes specialty chemicals such as structure directing agents and phase transfer catalysts, and exports most of its output. Its total income was Rs 306.29 crore in FY2021.
Stock price
Tatva Chintan Pharma Chem is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 16 Jul 2021
- Close 20 Jul 2021
- Allotment 26 Jul 2021
- Refund/credit 27 Jul 2021
- Listing 29 Jul 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 16 to 20 Jul, 2021 |
|---|---|
| Price Band | ₹1073 – ₹1083 |
| Face Value | ₹10 |
| Lot Size | 13 Shares |
| Issue Size | ₹500 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,079 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 13 shares at the ₹1083 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 13 | ₹14,079 |
| Retail (max) | 14 | 182 | ₹1,97,106 |
| S-HNI (min) | 15 | 195 | ₹2,11,185 |
| S-HNI (max) | 71 | 923 | ₹9,99,609 |
| B-HNI (min) | 72 | 936 | ₹10,13,688 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 6
- 01Total income rose from Rs 206.80 crore in FY2019 to Rs 306.29 crore in FY2021.
- 02Profit after tax rose from Rs 20.54 crore in FY2019 to Rs 52.26 crore in FY2021.
- 03It is the only commercial maker of structure directing agents for zeolites in India, and it exports to 25+ countries.
- 04Net worth grew from Rs 79.70 crore on 31 March 2019 to Rs 165.96 crore on 31 March 2021.
- 05Rs 147.10 crore of the fresh issue was planned for expanding the Dahej plant.
- 06EBITDA rose from Rs 34.30 crore in FY2019 to Rs 71.64 crore in FY2021.
Risks · 6
- 01Exports gave 76% of revenue in FY 2020, which adds currency and foreign demand risk.
- 02The pre-issue P/E was 41.62 at the upper band of Rs 1,083, based on EPS of Rs 26.02.
- 03Total borrowing was Rs 90.25 crore on 31 March 2021, more than half of net worth of Rs 165.96 crore.
- 04Rs 275.00 crore of the Rs 500 crore issue was offer for sale, so that part went to selling shareholders.
- 05Both of its 2 plants are in Gujarat, so a local disruption could hit output.
- 06Promoters and the promoter group held 100% before the issue and 79.17% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Tatva Chintan Pharma Chem offer document.
| Metric | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|
| Assets | 314.80 | 248.94 | 187.51 |
| Total Income | 306.29 | 264.62 | 206.80 |
| Profit After Tax | 52.26 | 37.79 | 20.54 |
| EBITDA | 71.64 | 56.34 | 34.30 |
| NET Worth | 165.96 | 117.69 | 79.70 |
| Reserves and Surplus | 145.88 | 109.66 | 71.67 |
| Total Borrowing | 90.25 | 90.69 | 77.15 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Tatva Chintan Pharma Chem RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Tatva Chintan Pharma Chem IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹26.02 | ₹23.58 |
| P/E Ratio (x) | 41.62 | 45.93 |
| Market Cap at Offer Price (₹ Cr) | ₹2,175.16 | ₹2,400.24 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹1083 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹207.28 Cr of the issue is earmarked to named objects.
About the company
It is the largest and only commercial maker of structure directing agents for zeolites in India and the second largest globally, as per the F&S report. It is also one of the leading producers of phase transfer catalysts.
Customers span automotive, petroleum, pharmaceutical, agrochemical, paints, dyes and personal care industries, and include Merck, Bayer AG, Laurus Labs, Navin Fluorine and SRF. Exports gave 76% of revenue from operations in FY 2020. Its plants are at Ankleshwar and Dahej in Gujarat.
The IPO was Rs 500 crore, with Rs 225.00 crore of fresh issue and Rs 275.00 crore of offer for sale. Rs 147.10 crore was planned for expanding the Dahej plant.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Tatva Chintan Pharma Chem IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Tatva Chintan Pharma Chem?
The current Grey Market Premium is ₹1150, or 106% over the issue price.
What is the Tatva Chintan Pharma Chem IPO price band?
₹1073 to ₹1083, on a face value of ₹10.
When is the allotment?
The basis of allotment is 26 July 2021, with listing on 29 July 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
