Tatva Chintan Pharma Chem Limited which had tapped the capital markets with its fresh offer for Rs 225 crs and an offer for sale of Rs 275 crs received overwhelming support and was subscribed 182.04 times.

The price band was Rs 1,073-1,083. The issue had opened on Friday the 16th of July and closed on Tuesday the 20th of July.

Earlier the company had completed allocation to anchor investors by allotting 13,85,040 shares amongst 15 anchor investors equally. These anchor investors consisted of 22 entities. There were 7 domestic funds in the total allocation. The allocation is 6.67% or 92,339 shares rounded off to make 100% of the anchor.

The QIB portion was subscribed 186.96 times, HNI portion was subscribed 516.99 times and Retail portion was subscribed 35.68 times. The issue garnered 32.44 lac applications and this is a new record by itself. This incidentally beats the number of applications that an issue which was almost 15 times bigger in size, Zomato, received a slightly higher number of applications. On the basis of number of applications, the issue was subscribed 26.10 times.

The total amount garnered by this Rs 500 cr issue has raised is a staggering Rs 63,860 crs. The number can at best be described as mind-boggling. It can also be viewed as IPO frenzy and retail investors willing to join in an IPO to be just part of the lottery process. In either case, it should make investors and issuers of capital cautious as we, go forward.

Full details of the subscription are given below: –