Tarsons Products IPO
Tarsons Products IPO — date, price band, lot size & details 2021
Tarsons Products listed on 26 Nov 2021 at ₹682, 3% above the ₹662 issue price.
Tarsons Products makes and supplies labware, such as consumables and reusables, used by research labs, pharma companies, diagnostics firms and hospitals. Its total income was Rs 234.29 crore in FY2021.
Stock price
Tarsons Products is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 15 Nov 2021
- Close 17 Nov 2021
- Allotment 23 Nov 2021
- Refund/credit 24 Nov 2021
- Listing 26 Nov 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 15 to 17 Nov, 2021 |
|---|---|
| Price Band | ₹635 – ₹662 |
| Face Value | ₹2 |
| Lot Size | 22 Shares |
| Issue Size | ₹1023.54 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 61.00 per share |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,564 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 22 shares at the ₹662 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 22 | ₹14,564 |
| Retail (max) | 13 | 286 | ₹1,89,332 |
| S-HNI (min) | 14 | 308 | ₹2,03,896 |
| S-HNI (max) | 68 | 1,496 | ₹9,90,352 |
| B-HNI (min) | 69 | 1,518 | ₹10,04,916 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax rose from Rs 38.96 crore in FY2019 to Rs 68.87 crore in FY2021.
- 02EBITDA was Rs 108.82 crore in FY2021 on total income of Rs 234.29 crore, a margin of about 46%.
- 03Net worth grew from Rs 135.27 crore on 31 March 2019 to Rs 268.96 crore on 30 June 2021.
- 04It has over 1,700 SKUs across 300 products and over 141 distributors.
- 05Rs 78.54 crore of the fresh issue was planned for repaying debt.
Risks · 6
- 01Rs 873.58 crore of the Rs 1,023.54 crore issue was offer for sale, so most of the money went to selling shareholders.
- 02The pre-issue P/E was 48.96 at the upper band of Rs 662, based on EPS of Rs 13.52.
- 03All 5 plants are in West Bengal, so a local disruption could hit output.
- 04Total borrowing rose from Rs 33.50 crore on 31 March 2021 to Rs 64.49 crore on 30 June 2021.
- 05Total income dipped from Rs 184.72 crore in FY2019 to Rs 180.05 crore in FY2020 before rising in FY2021, so growth has been uneven.
- 06Promoter holding fell from 50.75% before the issue to 47.3% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Tarsons Products offer document.
| Metric | 30 Jun 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|
| Assets | 364.77 | 295.95 | 248.71 | 211.96 |
| Total Income | 71.13 | 234.29 | 180.05 | 184.72 |
| Profit After Tax | 24.84 | 68.87 | 40.53 | 38.96 |
| EBITDA | 38.74 | 108.82 | 73.41 | 77.64 |
| NET Worth | 268.96 | 244.34 | 197.57 | 135.27 |
| Reserves and Surplus | 258.77 | 244.15 | 197.37 | 135.08 |
| Total Borrowing | 64.49 | 33.50 | 36.00 | 64.76 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Tarsons Products RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Tarsons Products IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹13.52 | ₹18.67 |
| P/E Ratio (x) | 48.96 | 35.46 |
| Market Cap at Offer Price (₹ Cr) | ₹1,216.28 | ₹880.78 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹662 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹142.16 Cr of the issue is earmarked to named objects.
About the company
Its products fall into consumables, reusables and others. On 31 March 2021 it had over 1,700 SKUs across 300 products. They are used in research organisations, academic institutes, pharma companies, contract research organisations, diagnostics companies and hospitals.
It has 5 manufacturing facilities in West Bengal. It sells through over 141 authorised distributors in India and also exports.
The IPO was Rs 1,023.54 crore, with Rs 149.96 crore of fresh issue and Rs 873.58 crore of offer for sale. Rs 78.54 crore was planned for repaying borrowings and Rs 62.00 crore for an expansion.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Tarsons Products IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
SBI Capital Markets Ltd.
37 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Kalyan Jewellers India (-15.0%).
ICICI Securities
65 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Edelweiss Financial Services Ltd
8 issues handledBest listing: Indigo Paints (+75.0%). Weakest: Lodha Developers (-10.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Tarsons Products?
The current Grey Market Premium is ₹170, or 26% over the issue price.
What is the Tarsons Products IPO price band?
₹635 to ₹662, on a face value of ₹2.
When is the allotment?
The basis of allotment is 23 November 2021, with listing on 26 November 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
