Tarsons Products shares rally after lukewarm debut; stock soars 27% from IPO price post listing

By: |
Updated: November 26, 2021 4:38 PM

Tarsons Products stock listed at Rs 700 per share, up Rs 38 or 5.74% from the upper end of the IPO price band of Rs 662 apiece. However, shares rallied sharply after tepid listing.

tarsons products share priceTarsons Products is engaged in the designing, development, manufacturing and marketing of consumables and reusables used in various laboratories. (Image: REUTERS)

Tarsons Products shares rallied sharply on Friday, after having made a tepid debut on the stock exchanges. The stock price hit 20% upper circuit or jumped 26.89% from the IPO price to close the day at Rs 840 per share. Shares had listed at a lukewarm Rs 700 apiece. Tarsons Products shares were offered at Rs 662 apiece during the IPO earlier this month. Tarsons Products, a life sciences company, garnered a strong response from investors earlier this month, with all pockets of investors oversubscribing their portion by a strong margin. Overall the IPO of Tarsons Products was subscribed a massive 77.49 times. On listing the stock had a market capitalization of Rs 3,724 crore. 

Check Live Price: Tarsons Products 

The IPO of Tarsons Products was subscribed 115 times by Qualified Institutional Buyers (QIB), while Non-Institutional Investors’ subscription was more than 184 times the reserved quota. Retail subscription for Tarsons Products was more than 10 times their portion. Post issue the shareholding of promoters of the company has dropped to 47.3% from 50.78% earlier while public shareholding is up at 52.7% from 49.22%.  

Tarsons Products is engaged in the designing, development, manufacturing and marketing of consumables and reusables used in various laboratories. “The company has a diversified product portfolio with over 1,700 SKUs across 300 products catering to research organizations, academic institutions, pharmaceutical companies, contract research organizations, diagnostic companies, and hospitals,” said analysts at Marwadi  Financial Services. Tarsons Products has no listed peers on the stock exchanges. 

In terms of valuations, considering the TTM (June 2021) adjusted EPS of Rs.16.30 on post-issue basis, the company is going to list at a P/E of 40.61 with a market cap of Rs.35,223 mn, said analysts at Marwadi Financial Services. The brokerage firm had assigned a ‘subscribe’ rating to the IPO considering it a leading Indian supplier to life sciences sector with strong brand recognition. 

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Footwear retailer Metro Brands IPO to open on December 10
2RBI rate decision, Omicron worries to drive stocks this week: Analysts
3Mcap of 7 of 10 most valued firms jump over Rs 1.29 lakh crore