Tarsons Products Limited IPO Details

Dates, Price band, Lot size, Risks, Review and broker recommendations etc.
Tarsons IPO

Tarsons IPO: Key Details

  • Grey Market Premium (GMP) today: TBD

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Company Information

Tarsons Products Limited is an Indian labware company engaged in the designing, development, manufacturing, and marketing of ‘consumables’, ‘reusables’ and ‘others’ including benchtop equipment, used in various laboratories across research organizations, academia institutes, pharmaceutical companies, Contract Research Organizations (“CROs”), Diagnostic companies, and hospitals.

Their product portfolio is classified into three key categories which include consumables, reusables, and others.

  • ‘Consumables’ category includes products such as centrifuge ware, cryogenic ware, liquid handling, PCR consumables and petri dish, transfer pipettes and others.
  • ‘Reusables’ category includes products such as bottles, carboys, beakers, measuring cylinders and tube
    racks.
  • ‘Others’ category includes benchtop instrumentation such as vortex shakers, centrifuges pipettors and others

Competitive Strengths

  • Leading Indian Supplier to life sciences sector;
  • Range of labware products across varied customer segments;
  • Operating in an industry which has an addressable market;
  • Well-equipped and automated manufacturing facilities;
  • Geographic reach through strong sales and distribution network;
  • Experienced Promoter backed by a strong management team

Company Strategy

  • Strengthening the foothold in existing markets and expanding the product portfolio
  • Enhancing manufacturing capacities in existing product categories to leverage industry growth drivers
  • Increasing global footprint in the overseas market
  • Continue to focus on maintaining operational efficiency and profitability

Proceeds from Tarsons IPO will be used to:

  • Repayment/prepayment of all or certain of their borrowings;
  • Funding a part of the capital expenditure for the new manufacturing facility at Panchla, West Bengal (the “Proposed Expansion”); and
  • General corporate purposes

Tarsons IPO: Financials

201920202021 Mar2021 June
Revenue from Ops₹178.75 Cr₹175.90 Cr₹228.91 Cr₹69.15 Cr
Prof Before Exp. Items₹55.83 Cr₹53.13 Cr₹92.43 Cr₹33.34 Cr
Profit after Tax₹38.96 Cr₹40.53 Cr₹68.87 Cr₹24.84 Cr
EPS (Basic)7.657.9413.434.88
₹ in Crores, except EPS

EPS (Avg*)P/E (Floor)P/E (Cap)
Based on basic EPS10.6459.6862.22
* Weighted Average for last 3 years

Tarsons IPO: Comparison with listed industry peers

As per RHP, there are no listed companies in India whose business portfolio is comparable with that of Fino Payment’s business and comparable to the scale of its operations.

Tarsons IPO Dashboard

Issue Details

TypeValue
Issue Size₹1,023.47 Cr
Fresh Issue₹150.00 Cr
Offer for Sale₹873.47 Cr
Face Value₹2/- per Equity Share
IPO Price₹635 – ₹662
Lot Size 22 shares
LotsMin 1 – Max 13

Key Dates

Date TypeDate
Bid Open15/11/2021
Bid Close17/11/2021
Allotment Finalization23/11/2021
Initiation of Refunds24/11/2021
Credit of Shares25/11/2021
Listing Date26/11/2021

Lot Size and Price

LotsSharesAmount
122₹14,564
13286₹1,89,332

Promoter Holding

HoldingPercentage
Pre-Issue50.75%
Post-Issue

Tarsons IPO: Investor Quota and Shares Offered

Investor TypeQuotaShares on Offer
QIB50%30,81,172
NII15%23,10,880
RII (Retail)35%53,92,052
Employees60,000
Total100%1,08,44,104

Tarsons IPO: Risks

  • Any failure by us to comply with high-quality standards may have an adverse effect on demand from end customers and on reputation,
  • The company imports over 75.00% of its raw material
  • The geographical concentration of manufacturing facilities, with 86.32% of the total manufacturing revenue contributed by units located at Dhulagarh and Jangalpur
  • The manufacturing facility, located in Jalan Industrial Complex at Jangalpur, which contributed 58.00% of the total sale realization of the Company, in Fiscal 2021 is situated on land for which the Company has received approval for conversion of partial land. The requisite approvals for conversion of the remaining land, have been pending since 2006.
  • Any inability to implement enhanced and efficient manufacturing processes in business operations as per industry standards could affect the business

For complete internal and external risk factors, you can refer to the RHP of the company.

Tarsons IPO: Registrar and Lead Managers

Registrar of the Issue

KFintech (Formerly Karvy)

Selenium Tower B, Plot 31 & 32,
Financial District, Nanakramguda, Serilingampally Mandal,
Hyderabad, Telangana India – 500 032

Phone: 1-800-309-4001
Email: [email protected]

Lead Managers of the Issue

  • ICICI Securities Limited
  • Edelweiss Financial Services Limited
  • SBI Capital Markets Limited

Phone: +91 22 6807 7100
Email: [email protected]

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