Tatva Chintan Pharma sees 4.51x subscription on first day of IPO

The IPO of specialty chemical manufacturing company Tatva Chintan Pharma Chem witnessed huge investor interest, with the issue getting fully subscribed with hours of opening and finally closing with 4.51x subscription on Friday.

The ₹500-crore IPO received bids for 1,47,08,655 shares as compared to 32,61,882 shares on offer, translating into 4.51x subscription, according to data available with the exchanges.

The portion meant for qualified institutional buyers was subscribed 50 per cent, while the non-institutional investors' category received 1.14x subscription and those for retail individual investors (RIIS) 8.24x.