Tarsons Products offer subscribed 77.49 times

Mumbai: The ₹1,023-crore initial public offering of Tarsons Products ended on a strong note with the issue getting subscribed 77.49 times.

The life sciences company, involved in the production and supply of labware products, received bids for 84.03 crore shares against 1.08 crore shares on offer. The portion reserved for qualified institutional buyers was subscribed 116 times, while the non-institutional investors, including high net worth individuals, were subscribed 185 times. Retail investors put in bids for 10.56 times the portion set aside for them.

The IPO of Tarson Products was fully subscribed on the first day itself. Last Friday, the company had raised ₹306 crore from 32 anchor investors by allotting 46.22 lakh shares. Monetary Authority of Singapore, Government of Singapore, Abu Dhabi Investment Authority, ICICI Prudential Mutual Fund (MF), Sundaram MF, Aditya Birla Sun Life MF, Edelweiss MF, and Reliance General Insurance Company were among the anchor investors.


Majority of the brokerages had recommended to apply for the IPO for a listing pop and long-term investment too.

"Tarsons has a good return on equity aided by high margins which can sustain with the growing scale of operations," said Milan Desai, analyst Angel One. "The IPO proceeds will enable Tarsons to invest in capacities to capture growth going ahead."