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News Details

Tarsons Products Ltd. debuts with 5.74% premium at Rs 700.00

Back
26/11/2021 10:10
Tarsons Products Ltd. makes a strong debut on the bourses with scrip got listed at Rs 700.00 on the Bombay Stock Exchange, a 5.74 per cent premium to its issue price of Rs 662.00. On the National Stock Exchange, the stock was listed at Rs 682.00.

The company, which raised 0.27 Cr from initial public offering, was subscribed 76.58 times, receiving bids for 2,033.86 lakhs shares against the total issue size of 26.56 lakhs shares.

The company, listed under B Group Securities post its IPO, opened for subscription from Nov 15 to Nov 17.

Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the BSE.

The company 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 managers & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 58,795.09, up 454.10 points, or 0.77 per cent.