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Tarsons Products is scheduled to list its shares on the stock exchanges on Friday, November 26. Calcutta-based life sciences company Tarsons Products earned a premium on the gray market, an unofficial market for unlisted securities, before its debut on the secondary market. on Dalal Street. Tarsons had a gray market premium (GMP) of around Rs 180 before debut, according to dealers.

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Aayush Agrawal, senior research and commercial banking analyst at Swastika Investmart, expects a price gain of around 20-25 percent on Tarsons shares.

“Tarsons Products has strong finances where margins are very impressive and also has very experienced management. The company has strong cash flow and is likely to be debt free after the IPO. However, its valuations seem expensive, therefore, aggressive investors with a long-term vision can keep this action, “he said.

Agrawal suggests to those participating in the IPO who make a trading profit to post profit on the trading day.

The Tarsons Products IPO received a commendable response from investors despite being priced higher, said Abhay Doshi, co-founder of Unlisted Arena, a portal that tracks gray markets and trades in unlisted securities.

“The strong growth prospects coupled with decent margins made the item attractive … The item may trade around Rs 800-850, a listing gain of around 20 percent, which is reasonable,” he said.

The initial public offering (IPO) of Tarsons Products, which was open for bidding from November 15 to 17, registered an overall subscription of 77.5 times, receiving offers for a total of 84 million shares compared to 1.1 million. of shares on offer.

The portion reserved for qualified institutional buyers (QIB) registered a subscription of 115.8 times the shares on offer. The categories of non-institutional investors and retail investors registered subscriptions of 184.6 times and 10.6 times, respectively. The portion reserved for employees was reserved 1.8 times.

(Edited by : Abhishek Jha)

First published: IST

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