OPEN APP
Home >Markets >Ipo >Tatva Chintan Chem files DRHP to raise Rs450 crore via IPO

Tatva Chintan Chem files DRHP to raise Rs450 crore via IPO

Proceeds from the issue will be used to fund capital expenditure for expansion of its Dahej manufacturing facility and upgradation at its R&D facility in Vadodara. (Photo: iStock)Premium
Proceeds from the issue will be used to fund capital expenditure for expansion of its Dahej manufacturing facility and upgradation at its R&D facility in Vadodara. (Photo: iStock)

  • For fiscal 2020, the company reported a revenue of Rs263.24 crore against 206.31 crore a year ago, while net profit during the period rose to 37.79 crore from 20.54 crore. As of January 2020, the firm had a total outstanding debt of Rs83.17 crore

MUMBAI: Tatva Chintan Chem Ltd has filed a draft red herring prospectus with the Securities Exchange Board of India (Sebi) to raise Rs450 crore via an initial public offering (IPO).

The offer comprises a fresh issue of equity shares worth Rs225 crore and an offer for sale of shares aggregating Rs225 crore by its existing promoters and shareholders.

Also Read | Why Kerala may not swing this time round

ICICI Securities and JM Financial are the book lead managers to the issue.

Proceeds from the issue will be used to fund capital expenditure for expansion of its Dahej manufacturing facility and upgradation at its R&D facility in Vadodara.

As of December, the company had an installed production capacity of 280 KL and 13 assembly lines at its manufacturing facilities. Pursuant to the proposed expansion, it intends to enhance the installed capacity at its manufacturing facilities by 200 KL and 14 assembly lines.

For fiscal 2020, the company reported a revenue of Rs263.24 crore against 206.31 crore a year ago, while net profit for the period rose to 37.79 crore from 20.54 crore. As of January 2020, the firm had a total outstanding debt of Rs83.17 crore.

Tatva Chintan is a specialty chemical manufacturing company engaged in the manufacture of a diverse portfolio of structure directing agents, phase transfer catalysts, electrolyte salts for super capacitor batteries and pharmaceutical and agrochemical intermediates and other specialty chemicals

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout