Tatva Chintan Pharma Chem made a strong debut on stock exchanges on Thursday, with its shares listing at Rs 2,111.85 on NSE, a premium of 95 percent over its issue price of Rs 1,083 apiece.

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On BSE, the share price of the speciality chemical company opened at Rs 2,111.80 apiece, a premium of 95 percent over the issue price. Its market cap soared to Rs 4,680.82 crore after listing.

Chintan Shah, Managing Director of Tatva Chintan Pharma Chem spoke to CNBC-TV18.

Shah said, “The first idea of going public was in October of 2020 and then we started this process with scepticism, whether someone will even subscribe to our initial public offering (IPO) or not relatively unknown company outside the speciality chemicals area. So we were even sceptical whether we will get any kind of subscription or whether we can go ahead with the IPO or not and today, we are standing here with this massive response. It's mind-boggling.”

Talking about the company and its growth he said, “We have been growing quite rapidly since last three years and the kind of product verticals that we have in terms of auto emission controls or specifically the environmental emission control stuff, which goes into automotive as well as you can think of stationary applications or any other mobile applications. So when you talk of pure environments, this is you know, have very good future potentials for this product as well. “

“Then another vertical where we are very active is into electrolyte salts for supercapacitor batteries. So when you say supercapacitor batteries, these are new kinds of high energy storage devices, which are finding applications into automotive into EV hybrid vehicles as well as into solar energy storage. So these are some pretty exciting applications that we are going forward to see all this commercialization is happening in these new areas. So I'm sure we'll see some exciting times ahead.”

He further added, “I anticipate we should be able to continue this rate of growth what we have been doing in the last three years. So the momentum is set and we should continue with that momentum.”

On using IPO proceeds Shah said, “We are putting up all this money into expanding our production capabilities as well as our research and development capabilities.”

On debt, he said, “In terms of debt, we have this long term debt which typically is a normal process, we should be able to repay of them may be the next two, two and a half years’ time, so should not worry about those parts. So this two years down the line, probably we will not have any kind of long term debts.”

For full management commentary, watch the video.

(Edited by : Abhishek Jha)