BS reporter | Mumbai last updated on November 27, 2021 00:46 IST
https://mybs.in/2Zj6T7C
Tarsons Products' stock rose 27% on the first day of trading on Friday. The stock closed at 840 rupees, while the IPO price was 662 rupees per share.
The strong debut came after an impressive reaction to the company's Rs 1,024 crore IPO. This product received 77.5 times more subscriptions. The institutional part subscribed 115 times, the wealthy investor part subscribed 184 times, and the retail part subscribed 10.5 times.
The IPO includes a new offering of 1.5 billion rupees and an offer for sale (OFS) of 8.74 billion rupees.
At the close on Friday, Tarsons was valued at Rs 4,470 crore, while the valuation it sought in the IPO was Rs 3,522 crore.
For the past 12 months ending June 2021, Tarson's earnings per share (EPS) was 16.3 rupees.
Tarsons Products is an Indian laboratory ware company engaged in the manufacturing and marketing of consumables, reusable items and other items (including benchtop equipment). It caters to the field of life sciences.
The product portfolio is divided into three main categories. The category of "consumables" includes products such as centrifuge vessels, cryogenic vessels, liquid handling, PCR consumables and petri dishes, pipettes, etc. The "reusable" category includes products such as bottles, large bottles, beakers, measuring cylinders, and tube racks. The "other" category includes benchtop instruments such as vortex shakers and centrifugal pipettes.
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