Tarsons Products IPO Subscription Status Day 3 – Subscribed 77.49 times, NIIs portion booked 185 times

Tarsons Products Limited's initial public offer (IPO) closed. The IPO of Tarsons Products Limited was subscribed 77.49 times on the Bombay Stock Exchange (BSE) on the final day, showed BSE consolidated bidding data.  As per the data, against 1,08,44,104 shares on offer, bids were made for as many as 84,02.81,684 shares at around 5:00 pm on Wednesday.  

The Retail Individual Investors (RIIs) quota was subscribed 10:56 times on the third day, as bids for 5,69,13,164 shares were received as against 53,92,052 shares on offer. The non-Institutional Investors (NIIs) portion was booked a maximum of all categories by 184.58 times, while the employees' quota saw 1.83 times bidding and the Qualified Institutional Buyers (QIBs) subscribed to the issue 115.77 times on the last day.  

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The IPO of lab-ware products manufacturer opened was on November 15 and concluded on November 17, 2021

The company has fixed a price band of Rs 635-662 a share for its Rs 1,024 crore initial share sale and an investor can bid for a minimum of 22 shares and in multiples thereof, showed the red herring prospectus (RHP) of the company. 

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 had said the issue size of the IPO is too small and valuations very high. He recommended short-term investors to steer away from this IPO and suggested that only risk-taking long-term investors should apply. " If I have to answer directly, my response would be to avoid, but there are other things to consider too," he had said.
 
Company details:  
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.