Tarsons products have a strong debut on the stock market, listing at a premium of 5%

Tarsons products made a strong debut on the stock market on Friday. The shares got listed on November 26 with a premium of 5.74 per cent. It is the 52nd company to be listed on the stock market in 2021.

Tarsons products have a strong debut on the stock market, listing at a premium of 5%


Tarsons Products Listing: Life Sciences company Tarsons Products made a strong debut on the stock market on Friday. The shares got listed on November 26 with a premium of 5.74 per cent. It is the 52nd company to be listed on the stock market in 2021. The share of Tarsons Products opened at Rs 700 on the BSE, while the opening price on the National Stock Exchange stood at Rs 682.

The company's first public offering, which made labware products, got a strong subscription of 77.49 times. Non-institutional investors bought shares worth 184.58 times their quota and qualified institutional investors have bid for 115.77 times their quota. The quota reserved for retail investors was booked 10.56 times, while the quota earmarked for employees was subscribed 1.83 times.

Company raised Rs 1,023 crore through public offer

The company has raised an amount of Rs 1,023.47 crore through its public offer, which includes fresh issue of Rs 149.63 crore. Along with this, there is also an offer for sale of Rs 873.84 crore by promoters and investor Clear Vision Investment Holdings Pte Ltd.

The amount raised after the issue has been used for repayment of loans and for capital expenditure for the new manufacturing facility at Panchala, West Bengal. The price band of the offer is Rs 635-662 per equity share.

Tarsons manufacturers a wide range of LabVeep products. These products are used in research institutions, academic institutions, pharmaceutical companies, diagnostic laboratories and hospitals. They supply products to more than 40 countries in both developed and emerging markets. In FY21, the company received 33 per cent of the revenue from its operations.

Company's public issue got subscribe rating

The company had a consolidated profit of Rs 68.87 crore and revenue of Rs 228.91 crore in the financial year 2021. Whereas on a quarterly basis, its consolidated profit stood at Rs 24.83 crore and revenue at Rs 69.15 crore in the quarter ending June 2021.

The company's public issue got a subscribe rating from all brokerage companies. The reason for this he attributed to better profit margins, strong management team, with the help of which the brand's name has grown. Anand Rathi also gave a subscribe rating to the issue.

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