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Tarsons Products IPO subscribed 82% so far on Day 1

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Tarsons Products' Rs 1,024 crore initial public offering (IPO) was subscribed 82 percent so far on Monday, the first day of the bidding process. Under the Tarsons Products IPO, shares are available for bidding in the price band of Rs 635-662 in multiples of 22, the subscription window for which will closes on November 17.

Tarsons Products IPO subscribed 82% so far on Day 1
The initial public offering (IPO) of Tarsons Products was subscribed 82 percent so far on Monday, the first day of the bidding process. By 2:42 pm, the Tarsons IPO received bids for 89.2 lakh shares as against the issue size of 1.1 crore - a subscription of 82 percent.
Kolkata-based life sciences company Tarsons' Rs 1,024 crore IPO includes fresh issuance of shares worth Rs 150 crore and an offer for sale (OFS) of 1.3 crore shares (estimated at Rs 874 crore) by the existing investors and promoters.
Tarsons Products shares are available for bidding in the price band of Rs 635-662 in multiples of 22 under the IPO, the subscription window for which will close on Wednesday, November 17.
The company plans to utilise the proceeds from the share sale to fund a portion of capex required for a facility, to either repay or prepay its borrowings and for general corporate expenses.
Tarsons Products is a life sciences company involved in the manufacturing and supplying of labware products, with a portfolio including lab consumables and reusable products. Its products are used by hospitals, diagnostic labs, academic institutions and drug makers. Tarsons Products has five manufacturing facilities in West Bengal.
Shares of the company will be listed on stock exchanges BSE and NSE.
Meanwhile, three stocks made entry into the secondary market on Monday. Sigachi Industries made a bumper debut to emerge as the best listing day gainer of 2021 so far. Shares in PB Fintech, the operator of Policybazaar and Paisabazaar, also listed at a premium. SJS Enterprises shares listed at a marginal discount on the bourse.
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