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What GMP signaling before the share allocation date?

Tatva Chintan’s IPO: The initial public offering (IPO) of Tatva Chintan Pharma is expected to complete the share allocation on July 26, 2021. However, ahead of the Tatva Chintan grant date, the gray market premium signals optimistic sentiment in the markets. According to market watchers Tatva Chintan, IPO is GMP today 1,060, that is 45 compared to yesterday’s gray market premium of 1,015. Market watchers said such a surge in Tatva Chintan’s IPO gray market premium indicates a strong listing of the public issue.

What does Tatva Chintan’s rise in IPO GMP mean?

The share price of Tatva Chintan Pharma on the gray market is at a premium of. available 1,060, that is 45 compared to yesterday’s premium price in the same market. They said that after the public issue was opened for subscription, their GMP was around 750, but after the enthusiastic response from the bidders, it has increased, which is visible in the current gray market. You said this GMP from 1060 means the market expects Tatva Chintan to IPO at around 2143 – more than 100 percent premium.

However, when we look at the company’s fundamentals, it looks promising when it comes to the company’s stock listing too.

Expects Tatva Chintan’s initial public offering to be strong; Abhay Doshi, Founder of UnlistedArena.com, said: “Tatva Chintan Pharma is the largest and only commercial manufacturer of SDA (Structure Directing Agents) and ranks second for them. The company has a diversified product portfolio for customers from the paint, pharmaceutical and chemical industries. The company is export-oriented and over 70 percent of operating sales come from exports. In finance, revenue increased 21.70 percent CAGR, while PAT and EBITDA growth was 59.50 percent and 44.52 percent CAGR, respectively, for fiscal years 2019-2021.

So GMP’s recent surge and the company’s strong financials are nothing more than an indication of a strong public issue listing, Abhay said.

The tentative date for the allotment of Tatva Chintan’s shares is July 26, 2021, while Tatva Chintan’s listing is expected on July 29, 2021 on both the NSE and BSE

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