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News Details

Tarsons Products announces launch of initial public offering

Back
10/11/2021 11:20
Tarsons Products Ltd. has announced public offering of 2655861 shares at a price of Rs 2.00 each for Cash at a Premium of Rs 660.00 per share. The gross proceeds of the issue are expected to be Rs 17,581.80 lakhs.

The company's initial public offer (IPO) will open on 15 November 2021 and is expected to close on 17 November 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 635.00-662.00 per share.

The IPO includes a fresh Issue of 2655861 Equity Shares of the Company at an price of Rs 662.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 22 shares with bids in multiples of 22.

Tarsons Products Ltd. anticipates using the proceeds of the issue for Repayment/prepayment of all or certain of the borrowings Funding a part of the capital expenditure for the new manufacturing facility at Panchla, West Bengal (the “ProposedExpansion) General corporate purposes.

Edelweiss Financial Services Ltd.,SBI Capital Markets Limited,ICICI Securities Ltd as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.