Chemplast Sanmar, Tatva Chintan Pharma Chem get Sebi nod for IPOs NEW DELHI: Chemplast Sanmar and Tatva Chintan Pharma Chem have received capital markets regulator Sebi''s go ahead to raise Rs 3,950 crore collectively through initial share sales.Chennai-based Chemplast Sanmar filed preliminary IPO papers in May to raise Rs 3,500 crore, while specialty chemical manufacturing company Tatva Chintan Pharma Chem approached Sebi with its draft papers in April to garner Rs 450 crore through its initial public offering (IPO).Chemplast Sanmar and Tatva Chintan Pharma Chem obtained Sebi''s observations on July 2 and June 30 respectively, an update with Sebi showed on Monday.Sebi''s observations are necessary for any company to launch public issues like IPO, follow on public offer (FPO) and rights issue.Going by the draft papers, Chemplast Sanmar''s Rs 3,500 crore IPO comprises fresh issue of equity shares worth Rs 1,500 crore and an offer for sale of Rs 2,000 crore.The offer for sale comprises sale of shares worth Rs 1,850 crore by Sanmar Holdings Ltd and Rs 150 crore by Sanmar Engineering Services Ltd.Chemplast Sanmar is a leading specialty chemicals manufacturer with focus on specialty paste PVC (polyvinyl chloride) resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors.The company would utilise an aggregate amount of Rs 1,238.25 crore from the net proceeds towards early redemption of the non-convertible debentures (NCDs) issued by it.