Tarsons Products Limited IPO opens today; Know subscription status, GMP & other details

Life sciences firm, Tarsons Products Limited has opened its initial public offering (IPO) for subscription on Monday. The initial share sale which will comprise a fresh issue of equity shares worth Rs 150 crore further provides an offer-for-sale of Rs 1.32 crore by its promoters and investors.

According to the draft document submitted by Tarsons Products, the issue will close its subscription on November 17 and further the proceedings from the issue will be used for repaying the debt and further fund part of the capital expenditure for the company and its new manufacturing facility in West Bengal. Apart from that, the proceedings will be also used for general corporate purposes. 

Meanwhile, Tarsons Products which is looking forward to raising Rs 1,024 crores from its public issue has already raised Rs 306 crore from anchor investors ahead of the issue.

Read on to know more about the three-day initial public offering by Tarsons Products Limited

Tarsons Products Limited IPO

The initial share sale by Tarsons Products Limited comprises fresh issuance of equity shares worth Rs 150 crore and its shares available at a premium of Rs 200 in the grey market on Monday. With the price band of Rs 635-662 per share, the public issue at the upper hand of its price band will expect to fetch Rs 1,024 crore. 

Meanwhile, the company shares are expected to be listed on November 26, 2021, at the National Stock Exchange and the Bombay Stock Exchange. 

Tarsons Products Limited IPO subscription status

As of 2:30 PM, Tarsons Products Limited IPO subscription status stands at 0.78 times with retail portion oversubscribed at 1.54 times and non-institutional investors (NIIs) bid 0.06 times, and 0.00 times in Qualified Institutions (QIB).

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