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Tarsons Products IPO subscribed 77 times on final day, retail portion booked 10 times

Tarsons Products IPO subscribed 77 times on final day, retail portion booked 10 times

The share sale received bids for 84.02 crore equity shares against an offer size of 1.08 crore shares.

The portion reserved for retail investors was subscribed 10.56 times and employees submitted bids for 1.83 times their allotted portion. The company has kept aside 60,000 shares for its employees. The portion reserved for retail investors was subscribed 10.56 times and employees submitted bids for 1.83 times their allotted portion. The company has kept aside 60,000 shares for its employees.

The initial public offering (IPO ) of Tarsons Products was subscribed 77.49 times on the final day of bidding on November 17,2021. The share sale received bids for 84.02 crore equity shares against an offer size of 1.08 crore shares.

The portion reserved for retail investors was subscribed 10.56 times and employees submitted bids for 1.83 times their allotted portion. The company has kept aside 60,000 shares for its employees.

Qualified institutional investors applied for 115.77 times the portion reserved for them. Non-institutional investors put in bids 184.58 times the portion available for them.

The firm has fixed a price band of Rs 635-Rs 662 per share with an aim to garner Rs 1,024-crore from the share sale.

Lot size of the IPO was a minimum of 22 shares for which one would have to spend Rs 14,564. A maximum of 13 lots comprising 286 shares could be applied for by spending Rs 1,89,332.

The firm plans to make its market debut on November 26.  The IPO was open from November 15 to November 17.

The company collected Rs 306 crore from anchor investors ahead of its IPO. The proceeds from the issue will be used for repayment/prepayment of all or certain of company's borrowings, funding a part of the capital expenditure for new manufacturing facility at Panchla, West Bengal (proposed expansion) and general corporate purposes.

Tarsons Products Limited is a leading Indian life sciences company with more than three decades of experience in the production and supply of labware products. The company manufactures a range of quality labware products that helps advance scientific discovery and improve healthcare systems.