Quote on Tatva Chintan Pharma Receives Sebi by Mr. Yash Gupta, Angel Broking Ltd
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Below are Quote on Tatva Chintan Pharma Receives Sebi by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd
Tatva Chintan Pharma Receives Sebi Nod For ₹ 450 crore IPO
Gujarat based Tatva chintan pharma received SEBI approval for the ₹450 crores IPO consisting of fresh issue of ₹225 crores and offer for sale of ₹225 crores by existing shareholders.
Company will utilise a fresh issue of ₹225 crores to fund its capex plans like Dahej manufacturing plant and upgrade its R&D Vadodara facility.
Company has been promoted by Ajaykumar Mansukhlal Patel, Chintan Nitinkumar Shah and Snehkar Rasiklal Somani.
Company exports its products to more than 25 countries that includes USA,UK, China etc and 75% of the revenue comes from the Export market.
The company is manufacturer of chestructure directing agents (SDAs), phase transfer catalyst (PTCs), pharmaceutical and agrochemical intermediates, and other specialty chemicals. They are one of the largest manufacturers of SDAs for zeolites in India.
Company sells its products to customers like Merck, Bayer, SRF Limited, Divis labs etc.
IPO expected to come in July 2021, we have a positive outlook towards the Tatva Chintan Pharma Limited IPO.
Above views are of the author and not of the website kindly read disclaimer
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
