The three-day initial sale of the shares of the life science company Tarsons Products Limited was subscribed 77.49 times on the last subscription day on November 17th, supported by the great interest of institutional investors. The initial public offering (IPO) had a new issue up to ₹150 crore and an offer to sell up to 1.32.00,000 shares.
The finalization of the base of the stock award for the IPO of Tarsons Products is expected to take place next week on Tuesday, November 23rd, 2021. When the shares are allocated, the shares will be credited to the bidders’ Demat account on November 24, 2021. The registrar for this IPO is KFintech Private Limited, so the -plication for allocation can be viewed on their website here or on the BSE website here will.
According to market watchers, Tarsons Products’ stock premium (GMP) has gone down on the gray market ₹190 today. The company’s shares are expected to be listed on the BSE and NSE stock exchanges next week on Friday, November 26, 2021.
The Non-Institutional Investors (NII) category for Tarsons Products IPO was drawn 184.58 times, Qualified Institutional Buyers (QIBs) 115.77 times, and Retail Individual Investors (RIIs) 10.56 times. The public issue, which was open for subscription from November 15 to 17, had a price range of ₹635-662 per share.
Tarsons Products design, develop, manufacture and supply a diverse range of high quality laboratory items used in the laboratories of research organizations, academic institutes, pharmaceutical companies, diagnostic companies and hospitals. The company currently operates in its five production facilities in West Bengal.
The proceeds from the new issue will be used to repay debt, fund part of the c -ital expenditures for the new manufacturing facility in Panchla, West Bengal, and for general corporate purposes. ICICI Securities, Edelweiss Financial Services and SBI C -ital Markets were the managers of the offering.
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