Tatva Chintan Pharma Chem, a specialty chemicals manufacturing company, has filed preliminary documents with market regulator Sebi for an initial public offering (IPO). The IPO will include a new issue of shares worth Rs 225 crore and an offer to sell in the amount of Rs 225 crore by existing promoters and shareholders, according to the company’s draft prospectus.
Tatva Chintan Pharma Chem will use the proceeds of the IPO to finance its capital expenditures, expand the Dahej manufacturing plant and for general corporate purposes.
Based in Vadodara, Tatva Chintan exports its products to more than 25 countries, including the United States, China, Germany, Japan, South Africa and the United Kingdom.
ICICI Securities and JM Financials are the investment bankers of Tatva Chintan Pharma’s issue.