Tatva Chintan Pharma Chem did the filing process with the market regulator SEBI. The company targets to raise Rs 450 crore through an initial public offering.
The offer includes the fresh equity shares issue of amount Rs 225 crore. The remaining amount includes an offer for sale by the promoters and shareholders of Rs 225 crore.
Further, the company’s objective of raising funds is to utilize them for meeting the capital expenditure requirements. Also, this would expand the manufacturing factory of the company located in Dahej. Additionally, the use is to enhance the research and development activities in Vadodara and other business activities.
Furthermore, the company added that the process of IPO gives additional benefits to the company. The benefits are in terms of gaining attention and enhancing brand name in the market.
The designated merchant bankers for the issue are ICICI Securities and JM Financials.
Both NSE and BSE involve the listing of the shares of the company.
In the fiscal year of March 31, 2020, it gained revenue of Rs 263.23 crore. Also, in the same year, it earned a profit of Rs 37.78 crore.
Tatva Chintan Pharma Chem Limited is one of the largest company which manufacture chemicals. The units of the company are located in Ankleshwar, Dahej SEZ & R&D center at Vadodara.
The company started its operation in 1996 in Vadodara. Moreover, the company has a client base spread across 25 countries like the US, Japan, China, etc.
The company is the sole manufacturer of SDAs for zeolites in the country. Besides, it earned the second-largest place internationally.
Check all the recent news updates and share market updates