You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Tarsons Products makes decent debut

Capital Market 

Shares of Tarsons Products were currently trading at Rs 797.70 on the BSE, at a premium of 20.50% as compared to the issue price of Rs 662.

The scrip was listed at Rs 700, representing a premium of 5.74% to the issue price.

So far, the scrip has hit a high of 808 and a low of 634. Over 8.15 lakh shares of the company have changed hands in the counter till now.

The initial public offer (IPO) of Tarsons Products was subscribed 77.49 times.

The issue opened for bidding on 15 November 2021 and it closed on 17 November 2021. The price band of the IPO was fixed at Rs 635-662.

Ahead of the IPO, Tarsons Products on 12 November 2021 finalized allocation of 46,21,757 equity shares to anchor investors at Rs 662 per share, aggregating to Rs 305.96 crore.

The IPO comprised fresh issue of equity shares worth up to Rs 150 crore and and an offer for sale of up to 1.32 crore equity shares by existing shareholders and investors. The objectives for the fresh issue are to repay/prepay Rs 78.5 crore of certain borrowings, while Rs 62 crore will be used for funding capital expenditure for the proposed expansion. The remaining amount will be used for general corporate purposes.

Tarsons Products is engaged in the designing, development, manufacturing and marketing of consumables, reusables and others including benchtop equipment, used in various laboratories across research organizations, academia institutes, pharmaceutical companies, Contract Research Organizations (CROs), Diagnostic companies and hospitals. As of June 30, 2021, the company had a diversified product portfolio with over 1,700 stock-keeping units (SKUs) across 300 products.

The company currently operates through its five manufacturing facilities located in West Bengal. These facilities are vertically integrated and equipped with automated support systems that helps maintain quality, increase productivity, and reduce costs. The company supplies its products to over 40 countries across both developed and emerging markets through a blend of branded and ODM (original design manufacturer) sales. Its overseas sales in FY 2021 accounted for Rs 75.59 crore, representing 33.02% of total revenue from operations, with majority of sales being to USA and countries in Europe.

The company reported a consolidated net profit of Rs 24.84 crore on sales of Rs 69.15 crore in the quarter ended June 2021.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, November 26 2021. 10:16 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU