Topic IPO | Investor
BS Reporter | Mumbai last updated on November 18, 2021 00:04 IST
https://mybs.in/2Zj2J8Z
Tarsons Products' 1,024 crore initial public offering (IPO) received 77.5 subscriptions on Wednesday (the end of the offering). The institutional part subscribed 115 times, the wealthy part subscribed 184 times, the retail part subscribed 10.5 times, and the employee reserved part subscribed 1.8 times.
The company set the issue price at 635-662 rupees per share. The IPO includes 1.5 billion rupees in new shares and 8.74 billion rupees in an offer for sale (OFS).
At the high end, the company's market value will reach Rs 3,522 crore. Tarson's revenue share for the past 12 months ending June 2021 was 16.3 rupees per share.
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 "consumables" category 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 centrifuges
The company has raised Rs 30.6 crore from 32 anchor investors, including the Government of Singapore, Abu Dhabi Investment Authority, ICICI Prudential Smallcap Fund, Mirae Asset Healthcare Fund and Aditya Birla MF. These funds are used for anchoring Category of funds.
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