Tarsons Products IPO to open on November 15

Life sciences company Tarsons Products Ltd will open its initial public offering (IPO) for public subscription on November 15.

The price band of the offer of the West Bengal-based company has been fixed at Rs 635 to Rs 662 per equity share of face value of Rs 2 each.

Bids can be made for a minimum of 22 equity shares and in multiples of 22 equity shares thereafter.

The offer consists of equity shares of face value of Rs 2 each of Tarsons Products Limited comprising a fresh issue aggregating up to Rs 150 crore.

The offer for sale consists of up to 390,000 equity shares by Sanjive Sehgal aggregating, up to 310,000 equity shares by Rohan Sehgal (Sanjive Sehgal and Rohan Sehgal together promoter selling shareholders”) and up to 12,500,000 equity shares by Clear Vision Investment Holdings Pte. Limited (the investor selling shareholders).

The offer includes a reservation of up to 60,000 equity shares, for subscription by eligible employees

The net proceeds from the fresh issue are proposed to be utilised for repayment/prepayment of all or certain borrowings; funding a part of the capital expenditure for the new manufacturing facility at Panchla in West Bengal and general corporate purposes.

ICICI Securities, Edelweiss Financial Services and SBI Capital Markets have been appointed as merchant bankers to advise the company on the IPO. The equity shares will be listed on BSE and NSE.

Tarsons is engaged in the designing, development, manufacturing and marketing of consumables, reusables and others including benchtop equipment, used in various laboratories across research organisations, academia institutes, pharmaceutical companies, contract research organizations, diagnostic companies and hospitals.

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