Labware company Tarsons Products' Rs 1,024-crore IPO to open Monday

The price band is Rs 635-662, firm will raise Rs 150 cr in fresh capital, OFS component is worth Rs 874 crore.

Tarsons Products’ Rs 1,024-crore IPO will open for subscription on Monday. The price band for the issue is Rs 635-662 per share. The company will raise Rs 150 crore in fresh capital through the IPO. The offer for sale (OFS) component of the IPO is worth Rs 874 crore.

“Considering the TTM (June 2021) adjusted EPS of Rs 16.3 on post issue basis, the company is going to list at a P/E of 40.61 with a market cap of Rs 3,522 crore. There are no listed entities whose business portfolio is comparable with that of the company's business and comparable to their scale of operations,” said Marwadi Financial Services in a note.

The brokerage has a ‘subscribe’ rating on the IPO. Tarsons Products is an Indian labware company engaged in the manufacturing and marketing of consumables, reusables and others including bench-top equipment. It caters to the life sciences sector.

The company's product portfolio is classified into three key categories. ‘Consumables’ category includes products such as centrifuge ware, cryogenic ware, liquid handling, PCR consumables and petri dish, transfer pipettes and others. ‘Reusables’ category includes products such as bottles, carboys, beakers, measuring cylinders and tube racks. ‘Others’ category includes benchtop instrumentation such as vortex shakers and centrifuge pipettors.