Tarsons Products Limited | Globe Capital
Tarsons Products Limited
Closed
Price Band
Rs. 635 – 662
IPO Issue Period
Nov 15, 2021 to Nov 17, 2021
Issue Size
Rs. 1023.47 Cr.
Face value
Rs. 2/-
Fresh issue
Rs. 150 Cr.
Offer for sale
Rs. 873.47 Cr.
Minimum Shares for Retail
22 shares
Maximum Shares for Retail
286 shares
Listing on
NSE, BSE
Issue Type
Book Building
Tentative Listing Date
26-Nov-21
QIB
Not More than 50% of the offer
NII
Not less than 15% of the offer
Retail
Not less than 35% of the offer
Registrar to the Issue
KFintech Private Limited

Edelweiss Financial Services Ltd, ICICI Securities Limited, SBI Capital Markets Limited

Tarsons Products Ltd. (TPL) 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 (Source: Frost & Sullivan Report). It manufactures a range of quality labware products that helps advance scientific discovery and improve healthcare (Source: Frost & Sullivan Report).  As of March 31, 2021, the company has a diversified product portfolio with over 1,700 SKUs across 300 products. TPL caters to a diverse range of end customers across various sectors which include research organizations, academic institutions, pharmaceutical companies, CROs, diagnostic companies, and hospitals. Some of its end customers include customers such as Indian Institute of Chemical Technology, National Centre for Biological Sciences across academic institutes and research organizations; Dr Reddy’s Laboratories, Enzene Biosciences across pharmaceutical sectors; Syngene International, Veeda Clinical Research across CROs; and Molbio Diagnostics, Agappe Diagnostic, Metropolis Healthcare, Dr Lal Path Labs, Mylab Life Solutions across other sectors such as diagnostics. Trason’s products are used in various laboratories across research organizations, academic institutes, pharmaceutical companies, Contract Research Organizations (CRO), diagnostic companies, and hospitals. The company has many reputed institutes, medical labs, and hospitals as its key clients. Currently, the company has 5 manufacturing facilities located in West Bengal spread across approximately 20,000 sq. mts of area. The company has a strong distribution network across India comprising of over 141 authorized distributors as of March 31, 2021 and supplies its products to more than 40 countries.

For year/ period ended ( in Cr.)

31 Mar 2021 31 Mar 2020 31 Mar 2019
Total Revenue 234.29 180.05 184.71
Profit After Tax 68.87 40.53 38.95
EPS 13.43 7.94 7.65
OPM(%) 39% 30% 30%
PATM(%) 29% 23% 21%
  • Leading supplier of life sciences products
  • Extensive product offering
  • Large addressable market of life sciences industry
  • Well-equipped and automated manufacturing facilities
  • Strong sales and distribution network
  • Experienced Promoter backed by a strong management team
  • Repayment/prepayment of all or certain of company’s borrowings;
  • Funding a part of the capital expenditure for new manufacturing facility at Panchla, West Bengal (proposed expansion) and;
  • General corporate purposes

Tarsons Products Limited is the second-largest player in plastic labware and post-pandemic, due to rising concerns for health, this company is poised for bright prospects ahead. The issue appears reasonably priced based on its financial data and future prospects. TPL is enhancing its role and expanding its product portfolio. The scrip is expected to generate first-mover fancy post listing, Investors may consider investment for the medium to long term rewards.

Timeline
Application Start
15-11-2021
Application End
17-11-2021
Allotment Begins
23-11-2021
Refund Initiation
24-11-2021
Allotment Date
25-11-2021
Listing on exchange
26-11-2021
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