The initial share sale of life sciences company Tarsons will open for public subscription on November 15.
The three-day initial public offering (IPO) will conclude on November 17, according to the red herring prospectus (RHP).
The initial share sale comprises fresh issuance of equity shares worth Rs 150 crore and an offer for sale of 1.32 crore equity shares by promoters and an investor.
As a part of the OFS, promoters -- Sanjive Sehgal will offload up to 3.9 lakh equity shares and Rohan Sehgal will sell up to 3.1 lakh equity shares -- and investor Clear Vision Investment Holdings Pte Ltd will divest up to 1.25 crore equity shares.
The public issue will include a reservation for employees.
Proceeds from the fresh issue will be utilised towards paying debt, funding a part of the capital expenditure for the new manufacturing facility at Panchla in West Bengal, and general corporate purposes.
Tarsons Products is engaged in designing, developing, manufacturing and supplying a diverse range of quality lab-ware products used in laboratories across research organisations, academic institutes, pharmaceutical firms, diagnostics companies and hospitals.
It manufactures a range of quality lab-ware products that helps advance scientific discovery and improve healthcare.
The company currently operate through its five manufacturing facilities located in West Bengal.
ICICI Securities, Edelweiss Financial Services and SBI Capital Markets have been appointed as merchant bankers to advise the company on the IPO. The equity shares will be listed on BSE and NSE.
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