IPO screener: Listing of Tarsons Products today

KS Badri Narayanan Chennai | Updated on November 26, 2021

Co fixed IPO price at ₹662; issue got subscribed 775 times

Shares of Tarsons Products will be listed at the bourses on Friday. The company has fixed the IPO price at ₹662, at the upper end of the price band ₹630-662.

The initial public offering of Tarsons Products was subscribed 77.49 times. The ₹1,024-crore IPO received bids for 84.02 crore shares against 1.08 crore shares on offer.

The IPO has so far received bids for 3.88 crore shares against offer of 1.08 crore shares. The portion set aside for retail investors has been subscribed 10.56 times and that of non-institutional investors has seen 184.58 times. Even, employee's quota has fully subscribed and the portion for qualified institutional buyers subscribed 115.77 times.

The labware supplier to life sciences sector reserved 60,000 equity shares for its employees who will get these shares at a discount of ₹61 a share to the final offer price.

Anchor investors

Ahead of the issue, the company raised ₹306 crore from anchor investors, who included Government of Singapore, Abu Dhabi Investment Authority, ICICI Prudential Smallcap Fund , Mirae Asset Healthcare Fund and Aditya Birla MF are some of the funds who applied in the anchor category.

The IPO consists of fresh equity shares worth ₹150 crore and an offer for sale of 1.32 crore shares aggregating to ₹873.47 crore by existing shareholders.

The funds raised through the IPO will be utilised for repayment or prepayment of full or partial borrowings of up to ₹78.54 crore, to fund the capital expenditure for a new manufacturing facility at Panchla, West Be₹ngal, and also for general corporate purposes.

Published on November 26, 2021

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