New IPO: New IPO came in the price band of 635-662, read why you should invest money in it?

Tarsons Products IPO: The country’s leading life sciences company Tarsons Products has said on November 10 that it has fixed the price band for its Rs 1,024 crore IPO. This price band will be Rs 635 to Rs 662 per share. The company’s IPO will open next week on November 15.

Bidding for Tarsons Products IPO can be done for three days and bidding will close on November 17. However, this bid will open for anchor investors on November 12.

Will get so many new shares
Tarsons Products will issue fresh shares worth Rs 150 crore under its IPO. At the same time, the promoters and investors of the company will offer to sell their 1.32 crore shares under the offer-for-sale (OFS). Under OFS, promoters of the company Sanjeev Sehgal will sell 3.9 lakh equity shares and Rohan Sehgal will sell 3.1 lakh equity shares. Also, the company’s investor Clear Vision Investment Holdings will sell its 1.25 crore shares.

As per the upper limit of the price band, Tarsons Products plans to raise Rs 1,024 crore through this IPO. In the IPO, 60,000 equity shares are reserved for the employees of the company. ICICI Securities, Edelweiss Financial Services and SBI Capital Markets are the book running lead managers to the issue. This IPO will be listed on both BSE and NSE.

This money will be used
About half of the IPO issue is reserved for qualified institutional investors. Whereas 15% is reserved for non-institutional investors. 35% of the shares have been reserved for retail investors. Bidding can be done for a minimum number of 22 shares for the IPO.

The company said that the proceeds from the IPO will be used for debt repayment, setting up of a new manufacturing plant at Panchala in West Bengal and other corporate purposes. Tarsons Products manufactures labware products that are used to advance scientific discovery and improve health services. As of March 2021, the company had a diversified product portfolio of around 300 products.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)

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