Shares of Tatva Chintan Pharma Chem made a debut with a bang on Thursday. The stock listed with 95 per cent gains on the BSE at ₹2,111.80 as against the issue price of ₹1,082.
The initial public offering of Tatva Chintan Pharma Chem was subscribed 180.35 times, the second-largest in 2021 behind MTAR Technologies, whose IPO subscribed over 200 times.
While the portion reserved for retail investors was subscribed 35.34 times, the non-institutional investors’ quota received bids worth 512.22 times. The qualified institutional buyers’ portion received bids worth 185.23 times.
The IPO consists of a fresh issue worth ₹225 crore and an offer for the sale of shares worth ₹275 crore by the promoter group. The company fixed the IPO price at ₹1,083, the upper end of the ₹1,073-1,083 price band.
The company had raised ₹150 crore from anchor investors ahead of the issue.