Tatva Chintan Pharma Share Price: Stock Listed At Rs 2,111.80 In Debut IPO, 95 Percent Higher Than Issue Rate

In the first one hour, more than 45.71 lakh shares of Tatva Chintan Pharma Chem were traded on the NSE, while over 4.23 lakh shares exchanged hands on the BSE.

Representative Photo

New Delhi: In the season of initial public offerings, Tatva Chintan Pharma Chemical made a strong debut on the stock exchanges on Thursday. The company was listed at 95 per cent higher than their issue price of Rs 1,083.

On the National Stock Exchange, the scrip got listed at Rs 2,111.85 apiece, while on the BSE, it opened at Rs 2111.80, up 94.99 per cent from the issue price. The stock sustained the momentum and touched an intraday high of Rs 2,534.20 on NSE and Rs 2486.30 on the BSE so far during the first hour of trade. At 10:52 am, the scrip was trading at Rs 2,264.60 on the BSE, up 109.10 per cent from the issue price while on NSE it touched the mark of Rs 2,264.15.

In the first one hour, more than 45.71 lakh shares of Tatva Chintan Pharma Chem were traded on the NSE, while over 4.23 lakh shares exchanged hands on the BSE, data from the respective stock exchanges showed.

The Rs 500 crore IPO witnessed strong demand in the offer period from July 16-20. The issue was oversubscribed by a whopping 180.36 times. A specialty chemical manufacturing, the company exports most of its products to over 25 countries, including the US, China, Germany, Japan, South Africa and the UK.

The Vadodara-based company is among key players in the specialty chemicals segment along with the range of products finding applications among the high growth segments.

 The company manufactures a variety of disinfectants, catalysts, agro and pharmaceuticals intermediates and other specialty intermediates. The company offers a good product mix across sectors of agrochemicals, pharmaceuticals, personal care, etc.

It is the largest and only commercial manufacturer of structure-directing agents (SDAs) for zeolites in India. It also enjoys the second-largest position globally.