Tarsons Products IPO Subscription Status Day 1 – Issue subscribed fully by 1.09 times, led by strong retail investors demand

The initial public offer of Tarsons Products Limited was subscribed fully by 1.09 times on the first day of the issue opening on Monday till 05:00 pm. Against 1,08,44,104 shares on offer, bids were made for as many as 1,18,38,926 shares around the same time.  

The Retail Individual Investors (RIIs) quota was filled 2.12 times on the first day, as 1,14,24,688 shares bids were received as against 53,92,052 shares offered.  

The Non-Institutional Investors (NIIs) portion was booked 0.17 times, while the employees' quota saw 0.41 times bidding.   

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The three-day initial public offering (IPO) opened today (November 15) and will conclude on November 17, according to the red herring prospectus (RHP) of the company. 

The company has fixed a price band of Rs 635-662 a share for its Rs 1,024 crore initial share sale. Investors can bid for a minimum of 22 shares and in multiple thereof. 

The initial share sale comprises fresh issuance of equity shares worth Rs 150 crore and an offer for sale of 1.32 crore equity shares by promoters and an investor. The public issue will include a reservation of 60,000 equity shares for employees. 

Tarsons Products IPO Timeline: 

Application Start Date: November 15, 2021 

Application Closing Date: November 17, 2021 

Allotment Start Date: November 23, 2021 

Refund Initiation Date: November 2, 2021 

Allotment Date: November 25, 2021 

Listing Date: November 26, 2021 

Should you subscribe?  

Zee Business Managing Editor Anil Singhvi suggested the IPO for high-risk investors with long-term view.

Tarsons Products is engaged in designing, developing, manufacturing and supplying a diverse range of quality lab-ware products used in laboratories across research organisations, academic institutes, pharmaceutical firms, diagnostics companies and hospitals. The company currently operate through its five manufacturing facilities located in West Bengal.