Tatva Chintan Pharma Chem to raise Rs 450 crore via IPO
New Delhi: Specialty chemical manufacturing company Tatva Chintan Pharma Chem has filed preliminary papers with capital markets watchdog Sebi to raise Rs 450 crore through an initial share sale.
The initial public offer (IPO) comprises fresh issuance of equity shares worth Rs 225 crore and an offer of sale to the tune of Rs 225 crore by existing promoters and shareholders, according to draft red herring prospectus (DRHP).
For the fiscal year ended on March 31, 2020, the company posted a profit of Rs 37.78 crore as compared to Rs 20.54 crore in the preceding financial year, while it reported a revenue of Rs 263.23 crore against Rs 206.3 crore.
ICICI Securities and JM Financial have been appointed as merchant bankers to the issue. The equity shares of the company will be listed on NSE and BSE.
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