Tarsons Products IPO — today is the last day to subscribe, GMP at ₹180

Advertisement
Tarsons Products IPO — today is the last day to subscribe, GMP at ₹180
Pixabay/jarmoluk
  • Tarsons Products has received bids for 3.88 crore equity shares versus the 1.08 crore shares up for sale.
  • The company intends to raise ₹1,023 crore through its public issue, which includes ₹150 crore as issue of new shares.
  • The company will use their capital to repay its debts and spend on the manufacturing facility at Panchla in West Bengal.
The initial public offering (IPO) of Tarsons Products continued to witness good demand from investors across the board on the second day of its public issue.

The company would be listed on the stock exchange on November 25. The grey market premium of Tarsons Products shares is reportedly at ₹180.

Tarsons Products — which is a labware supplier to the life sciences sector— has received bids for 3.88 crore equity shares versus the 1.08 crore shares that were up for sale.

Advertisement
The retail portion has been oversubscribed by 4.74 times and the portion reserved for non-institutional investors has been subscribed 3.98 times. Qualified institutional buyers — which includes banks, mutual funds and others — have subscribed to the IPO 1.30 times.

The issue has been subscribed by 3.6 times.

Tarsons Products’ public issue will close today, November 17. Interest investors can place their bidding, within a range of ₹645-662 apiece. The lot size has been set at 22 shares,which means that the investors would have to spend at least ₹14,190 to subscribe to the shares.

Advertisement

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.

It manufactures a range of quality labware products that helps advance scientific discovery and improve healthcare.

The company intends to raise ₹1,023 crore through its public issue, which comprises ₹ 150 crore as fresh issue. The remaining ₹873 crore will be raised through offer for sale (OfS) and will go to the investors selling their shares in the IPO.

Advertisement
The company will use their capital to repay its debts and spend on the manufacturing facility at Panchla in West Bengal.

SEE ALSO
Former Myntra CEO started Mensa Brand in May ⁠and it’s already worth a billion dollars

Cryptocurrencies tumble as China continues its crackdown against mining
Advertisement

Reliance Industries makes for nearly a third of Nifty’s fall today ⁠— Tata Motors and Maruti beat the trend
{{}}