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The company authorise the opening of the proposed issue of such number of equity shares to eligible qualified institutional buyers, aggregating to an amount up to Rs 200 crore, through a qualified institutions placement.
The floor price in respect of the Issue has been determined at Rs 1,704.74 per equity share. The company may at its discretion offer a discount of not more than 5% on the floor price so calculated for the Issue.
The company said that the issue price will be determined in consultation with the book running lead manager appointed for the issue.
Tatva Chintan Pharma Chem is an integrated specialty chemical company, present across the value chain manufacturing phase transfer catalyst, structure directing agents, electrolyte salts and pharma & agrochemical intermediates and specialty chemicals.
The company's consolidated net profit fell 3.1% to Rs 9.50 crore on 29.4% jump in net sales to Rs 114.36 crore in Q1 FY24 over Q1 FY23.
The scrip rose 0.88% to Rs 1,730 on the BSE.
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