Tarsons Products IPO Fully Subscribed On Day 1
Retail investors led bidding on the first day of the Rs 1,023.8-crore initial public offering of Kolkata-based Tarson Products.
Retail investors led bidding on the first day of the Rs 1,023.8-crore initial public offering of Kolkata-based Tarson Products Ltd.
The retail portion, which constitutes 35% of the total offer, was fully subscribed within few hours of opening. The overall offer was also oversubscribed by the end of day one.
The company, present in designing, development, and manufacturing of laboratory equipment, has fixed the price band at Rs 635-662 apiece.
The IPO consists of a fresh issue of Rs 150 crore and offer for sale by promoters— Sanjive Sehgal and Rohan Sehgal—and existing investor Clear Vision Investment Holdings Pte. Ltd.
The company plans to use Rs 62 crore toward capital expenditure and Rs 78.5 crore to reduce borrowings.
Subscription Details: Day 1
The IPO was subscribed 1.09 times as of 5 p.m. on Nov. 15.
Institutional investors: 0 times.
Non-institutional investors: 0.17 times.
Retail investors: 2.12 times.
Employees: 0.41 times.