Tarsons fixed a price range of Rs 635-662 per share for an initial sale of shares worth Rs 1,024.
New Delhi: Labware Tarsons Products’ initial public offering (IPO) received an order of 48.17 lakh lakh in equity shares out of a total of 1.08 crore offered for sale, representing 44% at the first day. The incident ended on November 17.
The section for retail investors is 89% registered while the section for non-institutional investors is 1% registered. The employees, who were reserved 60,000 shares, ordered 1,276 shares.
To date, qualified institutional buyers have yet to bid.
The initial share sale consisted of a new issue of shares worth Rs 150 crore and an offering of 1.32 crore of shares by promoters and an investor.
Tarsons fixed a price range of Rs 635-662 per share for an initial sale of shares worth Rs 1,024. Investors can bid a minimum of 22 shares and its multiples.
According to the draft document, the proceeds from the new issuance will be used to repay debt, finance part of investment costs for the new production facility at Panchla in West Bengal and general corporate purposes. .
ICICI Securities, Edelweiss Financial Services and SBI Capital Markets are the lead managers in this regard; while KFintech Private Limited is a registered company.
Should you register?
“At the upper end of the IPO price range, Tarsons Products are offered for sale at a P/E (price-earnings ratio) of 40.7 times TTM earnings (after 12 months), with a market capitalization of market at Rs 35,22.2 is a leading supplier to the life sciences sector, with diversified laboratory instruments products for different customer segments in a large market sector. , however valuation is at a higher level, hence we rate this IPO as “Watch (Long Term)””, brokerage firm Anand Rathi stated.
“At the upper end of the price range, Tarsons Products are reasonably priced at a P/E ratio of 36 times Fiscal Year 22 annual earnings (fully diluted on a post-issue basis) . The company does not have any listed companies immediately to compare with . With steady rise of the company upline, good growth downline, stable profit margin, profit margin Given the high returns and fair valuations, we remain ‘positive’ on the long-term outlook on this,” SEBI-registered investment advisor INDmoney said in a report.
