According to the news of Live Mint, earlier the size of the IPO offer for sale in the company’s DRHP was said to be Rs 225 crore, but now it has been increased to Rs 275 crore. ICICI Securities, JM Financial is the lead manager of the issue. The shares of the company will be listed on both BSE and NSE exchanges.
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Where will the funds be used?
The money raised through this IPO will be used to expand the Dahej manufacturing facility and to meet the expenses of its R&D located in Vadodara and the day-to-day needs of the company. Explain that 50 percent of the IPO has been reserved for QIBs, 35 percent for retail and 25 percent for non-institutional investors.
What is the business of the company?
Talking about the business of the company, Tattva Chintan of Vadodara is a specialty chemical company. The company exports its products to about 25 countries. America, China, Germany, Japan, South Africa and Britain are included in this list.
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What was the profit of the company?
In the financial year 2020 ie the company recorded a revenue of Rs 263.24 crore a year ago. Apart from this, the net profit stood at Rs 37.79 crore. As of January 2020, the firm had a total outstanding debt of Rs 83.17 crore. In the previous financial year, the company’s profit stood at Rs 20.54 crore and revenue at Rs 206.3 crore.
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