After overwhelming response to the public issue of life sciences company Tarsons Products, investors are anxious to know the share allotment status for the same, which is expected to get finalised on November 23, 2021. They can check their share allotment status either on the BSE website or IPO registrar's website by following few easy steps.
On the BSE website, investors needs
a) Select Equity and Issue Name (Tarsons Products Limited)
b) Enter Application Number, and PAN Number
c) Finally check box (I'm not a robot) and click on Search.
Alternatively, the allotment can be checked on the website of IPO registrar.
a) Select IPO (Tarsons Products Limited)
b) Select and accordingly enter either Application Number, or DPID/Client ID, or PAN Number
c) Finally enter Captcha and click on Submit button.
The Indian labware company will refund money to the unsuccessful investors' bank accounts by November 24, and the eligible investors can get shares in their demat accounts by November 25.
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Finally the listing of shares will take place on the BSE and NSE, on November 26. Experts expect the stock to debut with around 20-30 percent premium over issue price, given the strong grey market premium, robust financials with healthy ratios, and strong growth potential in the longer term.
"As the grey market premium suggests, this is an attractive company available at a reasonable valuation and can attract a 30 percent listing premium. The prospects for Tarsons will be linked to the pharma industry, though, which is going through a slowdown," says Sonam Srivastava, Founder of Wright Research.
Tarsons Products shares are available at a price of Rs 812-832 in the grey market, translating into a premium of Rs 150-170 or 23-26 percent over issue price, as per the IPO Watch and IPO Central.
The grey market is an unofficial platform, wherein the trading in IPO shares starts with the price band announcement and continues till the debut on the bourses.
The maiden public offering of Tarsons Products was subscribed 77.49 times during November 15-17. Non-institutional investors had bought shares 184.58 times the portion set aside for them, and that of qualified institutional buyers put in bids 115.77 times the reserved portion. The retail investors' reserved portion was booked 10.56 times, and that of employees saw 1.83 times subscription.
The company that currently operates through its five manufacturing facilities in West Bengal, is engaged in the designing, development, manufacturing and marketing of consumables, reusables and others including benchtop equipment. It manufactures a range of quality labware products.
As of June 2021, it had a diversified product portfolio with over 1,700 SKUs (stock-keeping units) across 300 products.
Some of its end customers include Indian Institute of Chemical Technology, National Centre for Biological Sciences, Dr Reddy's Laboratories, Syngene International, Molbio Diagnostics, Agappe Diagnostic, Metropolis Healthcare, and Dr Lal Path Labs.
Tarsons Products has raised Rs 1,023 crore through its public issue that comprised a fresh issue of Rs 150 crore and the remaining an offer for sale by selling shareholders.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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