Tatva Chintan surges over 100% on day 1
Tatva Chintan's first-day pop is among the strongest listings that the market has seen of late. Recently, food delivery platform Zomato listed at a 51% premium to its IPO price. GR Infraprojects and Clean Energy listed 105% and 98% above their IPO...
By ET Bureau | Updated:
BCCL - Non Copyright
Mumbai: Specialty chemical maker Tatva Chintan Pharma Chem made a strong debut on the exchanges on Thursday, listing at a 95% premium to the final IPO price of Rs 1,083 per share.
The stock debuted at Rs 2,111.8 on the BSE and extended gains during the day to touch a high of Rs 2,486.30, which is 130% above the issue price. The stock ended at Rs 2,310.25 on its debut day, up 113.32% from the IPO price.
Tatva Chintan's first-day pop is among the strongest listings that the market has seen of late. Recently, food delivery platform Zomato listed at a 51% premium to its IPO price. GR Infraprojects and Clean Energy listed 105% and 98% above their IPO prices, respectively.
Tatva Chintan's IPO enjoyed high interest on account of strong financials and product portfolio. The ₹500-crore IPO was subscribed over 180 times, with the quota reserved for qualified institutional buyers getting subscribed 185.23 times. The portion reserved for non-institutional investors and retail investors were subscribed 512.22 times and 35.35 times, respectively.
At the IPO price, Tatva Chintan commanded a price-to-earnings ratio of 41.62 times compared to listed peers Aarti Industries and Navin Fluorine which traded at 63 times and 61.4 times, respectively.
The stock debuted at Rs 2,111.8 on the BSE and extended gains during the day to touch a high of Rs 2,486.30, which is 130% above the issue price. The stock ended at Rs 2,310.25 on its debut day, up 113.32% from the IPO price.
Tatva Chintan's first-day pop is among the strongest listings that the market has seen of late. Recently, food delivery platform Zomato listed at a 51% premium to its IPO price. GR Infraprojects and Clean Energy listed 105% and 98% above their IPO prices, respectively.
Tatva Chintan's IPO enjoyed high interest on account of strong financials and product portfolio. The ₹500-crore IPO was subscribed over 180 times, with the quota reserved for qualified institutional buyers getting subscribed 185.23 times. The portion reserved for non-institutional investors and retail investors were subscribed 512.22 times and 35.35 times, respectively.
At the IPO price, Tatva Chintan commanded a price-to-earnings ratio of 41.62 times compared to listed peers Aarti Industries and Navin Fluorine which traded at 63 times and 61.4 times, respectively.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
