Tatva Chintan IPO (Initial Public Offering) has been subscribed over 180 times of its offering, which is the second most popular public offering of 2021 after MTAR Technologies’ IPO. After this excellent response from the bidders, all eyes are now on the date of the IPO allocation of Tatva Chintan, as the Tatva Chintan IPO GMP (gray market premium) has also skyrocketed compared to yesterday ₹730 tons ₹775 today. According to market watchers, the steady rise in Tatva Chintan’s share price in the gray market and the robust response from IPO subscribers indicate a strong listing of the public issue.
What IPO GMP signals from Tatva Chintan?
Market watchers said Tatva Chintan’s IPO gray market premium fell in the past 5 days from ₹650 tons ₹775, this means that the market is quoting the public issue with a premium of around 70 percent over the issue price of. expected ₹1073 tons ₹1083
Avinash Gorakshkar, Head of Research at Profitmart Securities, spoke about the surge in Tatva Chintan’s IPO GMP: However, IPO bidders are taking this market reaction as a cue while bidding for the issue. Tatva Chintal IPO GMP has risen, it must have played its part in such a robust public issue subscription. However, if we look at the company’s finances, it has also helped the company’s promoters attract such a large number of subscribers to its offering, so all eyes are on the stock allocation date as bidders will wait for the stock allocation process to complete. there is a huge stock market profit that is expected from going public. “
Highlighting the strong financial metrics of Tatva Chintal’s IPO; Ridhima Goyal, research analyst at Marwadi Shares and Finance, said: “The company will trade at a PE multiple of 41.62 with a market cap of list ₹24,004.76 million, while its competitors, Aarti Industries Ltd and Navin Fluorine International Ltd, trade PE multiples of 59.54 and 73.95, respectively. It is a niche global player in specialty chemicals with SDAs at its core, with a world-renowned list of customers and a fair rating compared to its publicly traded competitors. “
The IPO allocation of Tatva Chintan is expected on July 26, 2021, while the listing of the shares is expected to take place on July 29, 2021, the Red Hering Prospectus (RHP) informs about the public offering.
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