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    Tatva Chintan lists at 95% premium over issue price

    Synopsis

    The strong listing was in line with the recent trend, wherein market debutants have delivered 50-100 per cent returns at listing.

    Tatva Chintan Pharma Chem gets blockbuster debut, lists at 95% premium over issue price
    NEW DELHI: Tatva Chintan Pharma Chem made a solid market debut on Thursday, as the scrip got listed at Rs 2,111.80 on BSE, a 95 per cent premium over its issue price of Rs 1,083.

    On NSE, the scrip got listed at Rs 2,111.85, up 95 per cent.

    The strong listing was in line with the recent trend, wherein market debutants have delivered 50-100 per cent returns at listing. To name a few, GR Infraprojects saw a stellar 105 per cent listing gain on July 19 while Clean Science, which debuted on the same day, witnessed a 98.26 per cent listing pop. Zomato got listed at a 52 per cent premium on July 23.

    At the issue price, the Tatva Chintan commanded a PE of 41.62 times and a market-cap of Rs 2,400 crore compared with listed peers Aarti Industries' 63 times and Navin Fluorine International at 61.4 times.

    Astha Jain of Hem Securities advised long-term investors to pare at least 50 per cent of their holdings. "Investors, who were seeking listing gains only, should book 100 per cent profits on Day 1 itself," she said.
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    The Rs 500 crore IPO, which was sold from July 16 to 20, saw strong demand. Overall, the issue was subscribed over 180 times, with the quota reserved for qualified institutional buyers (QIBs) 185.23 times while the one reserved for non-institutional investors (NIIs) 512.22 times. The retail quota was subscribed 35.35 times.

    Tatva Chintan Pharma Chem is a specialty chemicals manufacturing company that manufactures a diverse portfolio of structure-directing agents, phase transfer catalysts, electrolyte salts for supercapacitor batteries and pharmaceutical and agrochemical intermediates and other specialty chemicals.

    As of March 2021, the company offered 47 products under its SDA product portfolio, 48 products under its PTC product portfolio, six products under its electrolyte salts for supercapacitor batteries portfolio and 51 products under its PASC portfolio.




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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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