Tarsons Products IPO to open on November 15- Top 10 things to know

Life sciences company Tarsons Products is all set to open for public subscription on Monday, November 15. The three-day initial public offering (IPO) will conclude on November 17, according to the red herring prospectus (RHP). Investors who are willing to bid for the IPO can check the following important details before subscribing.

Top 10 things to know:

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1. IPO date: The issue will open on November 15 and will close on November 17. The bidding for anchor investors will open on November 12.

2. Price band: 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.

3. About the issue: 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.

4. Offloading by promoters: As a part of the OFS, promoters Sanjive Sehgal will offload up to 3.9 lakh equity shares and Rohan Sehgal will sell up to 3.1 lakh equity shares and investor Clear Vision Investment Holdings Pte Ltd will divest up to 1.25 crore equity shares.

5. Object of the issue: As per the information, proceeds from the fresh issue will be utilised towards paying debt, funding a part of the capital expenditure for the new manufacturing facility at Panchla in West Bengal, and general corporate purposes.

6. Reservation for employees: The public issue will include a reservation of 60,000 equity shares for employees.

7. Reservation for QIBs, non-institutional investors and retail investors: Half of the issue size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors, while 35 per cent has been set aside for retail investors.

8. Lead Managers and Registrar of the IPO: ICICI Securities, Edelweiss Financial Services and SBI Capital Markets are the book running lead managers to the issue. While the registrar of the IPO is KFintech Private Limited.

9. Listing: The equity shares will be listed on BSE and NSE.

10. About the company: 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.

(With PTI Inputs).

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)