Tarsons Products gains 27% on debut on strong response to Rs 1,024 cr IPO

Shares of Tarsons Products gained 27 per cent over their listing during the first day of trading on Friday. The stock closed at Rs 840 versus IPO price of Rs 662 per share.

The strong debut follows an impressive response to the company’s Rs 1,024-crore IPO. The offering garnered 77.5 times subscription. The institutional portion was subscribed 115 times, the wealthy investor portion by 184 times, the retail portion by 10.5 times.

The IPO comprised a Rs 150 crore fresh issue and Rs 874 crore offer for sale (OFS).

At Friday’s close, Tarsons was valued at Rs 4,470 crore compared to Rs 3,522 crore valuation it sought in the IPO.

Tarson’s earnings per share (EPS) for the trailing 12-month period ended June 2021 stood at Rs 16.3.

Tarsons Products is an Indian labware company engaged in the manufacturing and marketing of consumables, reusables and others, including benchtop equipment. It caters to the life sciences sector.

The 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 centrifuges pipettors.