Vadodara based Tatva Chintan Pharma Chem Limited ('TCPCL' or the 'Company'), a specialty chemicals manufacturing company engaged in the manufacture of a diverse portfolio of structure directing agents ("SDAs"), phase transfer catalysts ("PTCs"), electrolyte salts for super capacitor batteries and pharmaceutical and agrochemical intermediates and other specialty chemicals ("PASC"), filed its Draft Red Herring Prospectus (DRHP) with the market regulator SEBI for its Initial Public Offering (IPO).
TCPCL is the largest and only commercial manufacturer of SDAs for zeolites in India. It also enjoys the second largest position globally. In addition, the Company is one of the leading global producers of an entire range of PTCs in India and one of the key producers across the globe. As a manufacturer of specialty chemicals, TCPCL focus on application of products which form a key ingredient to their customers' manufacturing and industrial processes. For instance, SDA and PTC products have various applications in green chemistry, which is pertinent considering the growing focus on green and sustainable technologies.
The IPO comprises of a fresh issue aggregating up ₹2,250.00 million and an offer for sale of aggregating up to ₹2,250.00 million.
The Net Proceeds from the Fresh Issue are proposed to be utilized funding the following objects: (i) Funding capital expenditure requirements for expansion of Dahej Manufacturing Facility; (ii) Funding capital expenditure requirements for upgradation at R&D facility in Vadodara; and (iii) General corporate purposes.
ICICI Securities Limited and JM Financial Limited are the book running lead managers to the issue.