Revised....
Tatva Chintan Pharma Chem IPO – Schedule *(Tentative)*
13th July – Announcement of Price Band
15th July – Anchor Investors Allotment
16th July – Offer Opens
20th July – Offer Closes
26th July – Finalisation of Basis of Allotment
27th July – Unblocking of ASBA Accounts
28th July – Credit of Equity Shares to Depository Accounts
29th July – Commencement of Trading
Tatva Chintan Pharma Chem IPO – Issue Information *(Tentative)*
Issue Opens on: 16 July 2021
Issue Closes on: 20 July 2021
Issue Type: Book Built Issue IPO
Issue Size: 48,16,954 Shares
Face Value: Rs.10/- per Share
Issue Price: Rs.1,035 – Rs.1,038 Share
Discount: NIL
Market Lot: 14 Shares
Listing At: NSE, BSE
Equity Shares outstanding prior to the Issue = 2,00,87,500 Shares
Fresh Issue of 24,08,477 Shares @1,038/- = Rs.250Crs
Offer for Sale of 24,08,477 Shares @1,038/- = Rs.250Crs
Equity Shares outstanding after the Issue = 2,24,95,977 Shares
Category-wise Break up:
Anchor – 14,45,086 Shares = 150.00Crs
QIB – 9,63,391 Shares = 100.00Crs
NII – 7,22,543 Shares = 75.00Crs
RII – 16,85,934 Shares = 175.00Crs (Lot size: 14 = 1,20,424 Forms)
Total Issue – 48,16,954 Shares = 500.00Crs.
Subscription required for 1X
RII = 1,20,424 Forms
NII = 75 Crs
Tatva Chintan Pharma Chem IPO – Financial Information (Basis of Valuation)
The information is collated from the following documents:
1) DRHP = Draft Red Herring Prospectus Dated March 31, 2021 (368 pages)
EPS for FY17-18 >>> Rs.06.12 (Page #89 of DRHP)
EPS for FY18-19 >>> Rs.10.23 (Page #89 of DRHP)
EPS for FY19-20 >>> Rs.18.81 (Page #89 of DRHP)
EPS for 9M20-21 >>> Rs.15.50 (Page #89 of DRHP)
RoNW for FY17-18 >>> 20.79% (Page #90 of DRHP)
RoNW for FY18-19 >>> 25.78% (Page #90 of DRHP)
RoNW for FY19-20 >>> 32.11% (Page #90 of DRHP)
RoNW for 9M20-21 >>> 21.52% (Page #90 of DRHP)
NAV as on December 31, 2020 was Rs.72.05 (Page #90 of DRHP)
Listed Industry Peer Group (Page #90 of DRHP): Aarti Industries, Navin Fluorine International, Alkyl Amines Chemicals, Vinati Organics, Fine Organics Industries
Tatva Chintan Pharma Chem IPO – *Market’s Current Estimates of oversubscription*:
NII = 20KCrs. = ~266.67X
RII = 20L Forms = 16.61X Applic. wise (Avg allotment of ~0.84 shares per lot)
Interest cost *@8.00%p.a.* for 7days = *159.25paise for 1X*
Thus, for NII the costing = 266.67 X 159.25 paise = Rs.424.68 per share (= GMP)
And, for RII the costing = 424.68 X 0.84 = Rs.358/- (= Kostak)
Tatva Chintan Pharma Chem IPO – *GMP Estimated*
GMP 500 +/- 2
Kostak 420 +/- 10
Subject 2 @6,000/-