Tatva Chintan Pharma Chem (TCPCL), one of the leading specialty chemicals manufacturer globally, had a stellar debut on the exchanges today with 95% premium at Rs 2,112 per share against its issue price of Rs 1,083/share. It further rallied towards its intraday high of Rs 2,486, gaining ~130%.

The company saw very strong subscription of 180x with retail portion getting subscribed 35x, QIB segment 185x while the non-institutional investors segment attracted 512x. After Clean Science, TCPCL is the second company in the green chemical space to get list on the bourses.

For some of its products it is the only manufacturer in India and among the largest globally. Its products have various applications in green chemistry, which is gaining prominence considering the growing focus on clean and sustainable technologies.

On listing note, Sneha Poddar, AVP-Research Analyst, Broking & Distribution, Motilal Oswal Financial Services said, "Over FY18-21, Tatva Chintan's Revenue/ PAT grew at 30%/62% CAGR, supported by margin expansion of almost 500 bps to 21.9%. Tatva Chintan is expected to do well due to its leadership position, wide product portfolio, strong client relationship and capacity expansion leading to strong growth ahead."