The Rs 1,024 crore initial public offer (IPO) of Tarsons Products’ was subscribed 77.5 times on Wednesday, which was the last day of its issue. The qualified institutional buyers’ portion was subscribed 115 times, the non institutional investors’ portion 184 times, and the retail portion by 10.5 times. The portion reserved for employees was subscribed 1.8 times.
The company had priced the issue between Rs 635-662 per share. The IPO 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. Tarsons’ earnings share for the trailing 12-month ended June 2021 stood at Rs 16.3 per share.
Tarsons Products is a labware company engaged in the manufacturing and marketing of consumables, reusables and others, including benchtop equipment. It caters to the life sciences sector.
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.