New Delhi: The Initial Public Offering (IPO) of Tarsons Products has been opened and it will remain open for bidding till November 17th.
Till 3 pm on the second day, it has been subscribed 2.1 times. Retail investors have shown interest in the issue and the reserve share for them has so far received close to 4 times the bids.
The company's IPO worth Rs 1,023.47 crore performed well as it got oversubscribed on the first day of opening on Monday also i.e November 15th. It was subscribed 1.09 times.
Tarsons Products IPO GMP Today
The shares of the Tarsons Products IPO GMP trading with an increase of Rs 200 from its upper price band of Rs 662 per share at 862 on Tuesday.
The company's IPO opened on Monday and the price band of the same has been fixed at Rs 635-662 per share and through this IPO, the company is expected to raise Rs 1,024 crore in the end.
The Tarson Product's IPO comprises a fresh issue of up to Rs 150 crore, while an offer for sale (OFS) of up to 1,32,00,000 equity shares.
Any investors who wants to subscribe, to the company's IPO can bid in a lot of 22 equity shares and multiples thereafter. A price of Rs 14,564 has been fixed for a single lot.
Shares of Tarsons Products will be listed on both Bombay Stock Exchange (BSE) as well as the National Stock Exchange (NSE).
The amount which comes from IPO will be use to pay off debt, set up a new manufacturing plant at Panchla in West Bengal and other business-related purposes.
SBI Capital Markets, Edelweiss Financial Services and ICICI Securities, are the book running managers to the issue while KFintech Private Limited will act as the registrar.
Tarsons Products Limited manufactures labware products that are used to advance scientific discovery and improve health services. As of March 2021, the company had a diversified product portfolio of around 300 products.
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