Tatva Chintan Pharma Chem, a specialty chemical manufacturing company, has filed preliminary papers with the market regulator Sebi for an initial public offering (IPO). The IPO will comprise a fresh issue of shares worth Rs 225 crore and an offer of sale amounting to Rs 225 crore by existing promoters and shareholders, according to the company's draft red herring prospectus.
Tatva Chintan Pharma Chem will use the IPO proceeds to fund its capital expenditure requirements, expand the Dahej manufacturing facility and for general corporate purposes.
Based in Vadodara, Tatva Chintan exports its products to more than 25 countries, including the USA, China, Germany, Japan, South Africa and the UK.
ICICI Securities and JM Financials are the merchant bankers to the issue of Tatva Chintan Pharma.