Tarsons Products IPO listing tomorrow; GMP staggers around ₹170

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Tarsons Products IPO listing tomorrow; GMP staggers around ₹170
BCCL
  • Tarsons Products IPO is all set to list in stock exchanges tomorrow, November 26.
  • Investors have shown good interest in the IPO as it has been subscribed 77.49 times.
  • The grey market premium of the Indian labware company has come down to ₹170 from ₹200 earlier.
Indian labware company Tarsons Products is all set to list its initial public offering (IPO) on stock exchanges tomorrow, November 26.

The IPO has shown a good response from investors as it has been subscribed 77.49 times.

While the company was looking to raise ₹1,024 crore through the IPO, it received bids for ₹55,625 crore. Investors have bid for 84 crore stocks out of 1.08 stock available for bids.
InvestorsSubscription status
Qualified Institutional Investors115.77 times
Non-Institutional Investors184.58 times
Retail10.56 times
Overall77.49 times

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However, the grey market premium of the Indian labware company has come down to ₹170 from ₹200 earlier.

The IPO consisted of a fresh issue of equity shares worth ₹150 crore and an offer for sale (OFS) of 1.32 crore equity shares that will be sold by promoters and an investor.

Some of the company’s clients include Dr Reddy's Laboratories, Metropolis Healthcare, Dr. Lal Path Labs. Tarsons sells nearly one in every ten labware products sold in India.

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Analysts are betting big on the healthcare sector even post covid and expect the labware products company to continue growing.

“COVID has turned out to be a boon for the companies in the healthcare space as worldwide governments have started allocating more funds and people in general have become more conscious towards the healthcare benefits. We expect the firm to grow faster than current CAGR [compound annual growth rate] given the laboratory instrument industry is growing at 20%,” said analysts at Nirmal Bang.

Tarsons Products is engaged in designing, developing, manufacturing and supplying a diverse range of quality labware products used in laboratories across research organisations, academic institutes, pharmaceutical firms, diagnostics companies and hospitals.

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