Tarsons Products IPO Gets 84,02,81,684 Subscriptions on Final Day

7 February 2023
3 mins read
Tarsons Products IPO Gets 84,02,81,684 Subscriptions on Final Day

The initial share sale of Tarsons Products was subscribed for 77.49 times, on the third and final bidding day, i.e., 17 November 2021. Public offering of the company managed to receive bids for 84,02,81,684 shares, against the allotment of 1,08,44,104 shares in total.

With more than three decades of experience in the service and production of labware products, Tarsons products aims to generate around Rs. 1,023.47 crores. Its IPO will comprise fresh issuance of up to Rs. 150 crores, while the remaining portion is an OFS.

The company has decided on an IPO price band of Rs. 635 – Rs. 662 an equity share.

Know all about the performance of Tarsons Products IPO across varied investor segments during the final bidding day of its IPO.

How did Tarsons Products IPO Perform on Day 3: Final Verdict

Follow the pointers below to know how Tarsons Products carried out its IPO across different segments of investors on its IPO’s closing date:

  • Qualified Institutional Buyers (QIBs) put forth bids for 35,67,10,948 shares, where 30,81,172 shares were allotted in total.
  • Non-institutional Investors (NIIs) sought 42,65,47,616 bids out of the total allocation of 23,10,880 shares.
  • Retail Individual Investors (RIIs) submitted bids for 5,69,13,164 shares against the overall allocation of 53,92,052 shares.

The below table represents the number of times each investor segment put forth subscriptions to this public offer:

QIB NII RII Total
115.77 times 184.58 times 10.56 times 77.49 times

On the whole, around 28.41% equity shares were allocated to the Qualified Institutional Buyers. At the same time, the company offered 21.31% shares to Non-institutional Investors and 49.72% equity shares to Retail Individual Investors.

A Glimpse at Tarsons Products Anchor Investment

On 17 November 2021, Tarsons Products raised as much as Rs. 305.96 crores through 32 anchor investors. In its BSE filing, the company mentioned its allocation of 46,21,757 shares to anchor investors at the upper price band, i.e., Rs. 662 apiece.

Marquee investors who participated in the anchor book are:

  • Government of Singapore
  • Monetary Authority of Singapore
  • Pinebridge Global Funds
  • First Sentier Investors
  • Theleme India Master Fund
  • Abu Dhabi Investment Authority
  • East Bridge Capital

Additionally, several domestic investors participated in this anchor book, including:

Tarsons Products aims to use the proceeds from this public offer for the following purposes:

  • Prepay or repay all existing borrowings of the company
  • Financing the capital expenditure, which is soon to happen for a new manufacturing unit in Panchla, West Bengal, and
  • For general corporate purposes

Tarsons Products – Day 1 and Day 2 Highlights

Here is how Tarsons Products IPO performed on Day 1 and Day 2 of its IPO:

Day of Bidding QIB NII RII Total
Day 1 0.00 times 0.17 times 2.12 times 1.09 times
Day 2 1.30 times 3.98 times 4.74 times 3.58 times

Bottom Line

Tarsons Products IPO managed to garner good demand from investors, with the issue getting 84,02,81,684 subscriptions. The company features an extensive product offering and automated manufacturing units backed by a strong sales network.

 

Frequently Asked Questions

  1. When is the listing date of Tarsons Products IPO?

Tarsons Products IPO will list on 26 November 2021.

  1. Who are the lead managers to Tarsons Products IPO?

The lead managers to this IPO are ICICI Securities Limited, Edelweiss Financial Services Ltd and SBI Capital Markets Limited.

  1. Who is the registrar of this IPO?

Tarsons Products IPO registrar is KFintech Private Limited.