Tarsons Products IPO received a good response on the first day of release
Labware Tarsons Products’ Initial Public Offering (IPO) was registered 1.09 times on the first day of issue, as it received an offer price of 1.18 crore shares out of 1. .08 crore offered for sale.
As the company raised Rs 305.96 crore from anchor investors on 12 Nov, the offering size was cut from 1.54 crore of equity shares. The incident ended on November 17.
The section for retail investors is registered 2.12 times while the section for non-institutional investors is registered 17%.
The employees, who have 60,000 shares reserved, have ordered 24,332 shares. Eligible institutional buyers have yet to participate in the bidding.
Tarsons Products is planning to raise Rs 1,023.84 through a public offering with a higher price range of Rs 662 per share. The offer includes a new issuance of Rs 150 crore and a sale offer of Rs 873.84 by promoters and investors.
It plans to use the proceeds from the issue to pay off debt and spend capital to set up a new facility in Panchla, West Bengal.
Tarsons Products is engaged in the design, development, manufacturing, and marketing of consumables, re-use and other items, including desktop equipment.
