Tarsons Products Rs 1.024 cr IPO subscribed 77x on institutional, HNI push

At the top end, the firm will have a Rs 3,522-cr market cap. Its earnings share for the trailing 12-month ended June 2021 stood at Rs 16.3 a share

The Rs 1,024 crore initial public offering (IPO) of Tarsons Products' was subscribed 77.5 times on Wednesday, the concluding day of the issue. The institutional portion was subscribed 115 times, the wealthy investor portion by 184 times, the retail portion by 10.5 times and the portion reserved for employees by 1.8 times.

The company had priced the issue between Rs 635-662 per share. The IPO was comprised of a Rs 150 crore fresh issue and Rs 874 crore offer for sale (OFS).

At the top end, the company will have a market cap of Rs 3,522 crore. Tarson’s earnings share for the trailing 12-month ended June 2021 stood at Rs 16.3 per share.

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.

The company had raised Rs 306 crore from 32 anchor investors, which included government of Singapore, Abu Dhabi Investment Authority, ICICI Prudential Smallcap Fund, Mirae Asset Healthcare Fund and Aditya Birla MF are some funds that applied in the anchor category.