Home / Markets / Stock Markets /  Tatva Chintan IPO: What GMP signaling ahead of share allotment date

Tatva Chintan IPO: Tatva Chintan Pharma Initial Public Offering (IPO) is expected to finalise share allotment on 26th July 2021. However, ahead of the Tatva Chintan allotment date, grey market premium has started signaling bullish sentiment of the markets. According to the market observers Tatva Chintan IPO GMP today is 1,060, which is 45 up from its yesterday's grey market premium of 1,015. Market observers said that such a rise in the Tatva Chintan IPO grey market premium suggests strong listing of the public issue.

What rise in Tatva Chintan IPO GMP mean?

Tatva Chintan Pharma share price in the grey market is available at a premium of 1,060, which is 45 up from its yesterday's premium price in the same market. They said that after the public issue opened for subscription, its GMP was at around 750 but after the rave response from the bidders, it has been soaring which is visible in the current grey market. They said that this GMP of 1060 means the market is expecting Tatva Chintan IPO listing at around 2143 — more than 100 per cent premium.

However, if we look at the fundamentals of the company, it also looks promising when it comes to listing of the company shares.

Expecting strong listing of the Tatva Chintan IPO; Abhay Doshi, Founder, UnlistedArena.com said, "Tatva Chintan pharma is the largest and only commercial manufacturer of SDA (Structure Directing Agents) and enjoys second position for same. The company has diversified product portfolio. Their client base is also strong which includes clients from paint, pharma and chemical industry. The company is export oriented and over 70 per cent of revenue from operations comes from export. On the financial front, revenue increased at 21.70 per cent CAGR while, growth in PAT and EBITDA accounted at 59.50 per cent and 44.52 per cent CAGR respectively for FY 2019 to FY 2021."

So, the recent rise in GMP and strong financials of the company is nothing but indication of strong listing of the public issue, said Abhay.

Tentative date for Tatva Chintan share allotment is 26th July 2021 while Tatva Chintan IPO listing is expected at both NSE and BSE on 29th July 2021

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