JSA advised ICICI Securities Limited, Edelweiss Financial Services Limited and SBI Capital Markets Limited, the book running lead managers in relation to the recently concluded initial public offering of equity shares by Tarsons Products Limited (“Tarsons”) (“IPO”).
The IPO comprised a fresh issue and an offer for sale of 15,465,861 equity shares, at a price of Rs. 662 per equity share, aggregating to a total IPO size of Rs. 10,234.74 million. As per news report, the IPO was oversubscribed by 76.58 times with the NII and QIB portion being oversubscribed by 183.59 times and 115.75 times, respectively, making it one of the most oversubscribed IPOs in its sector.
Tarsons is among the top three Indian labware company engaged in the designing, development, manufacturing and marketing of consumables, reusables and bench-top equipment used in various laboratories across research organizations, academia institutes, pharmaceutical companies, contract research organizations, diagnostic companies and hospitals. The Company is a leading Indian company in terms of revenue in the plastic labware market in India with expertise in the production of a wide range of labware products. (Source: F&S Report)
JSA team comprised Lead Partner – Arka Mookerjee, Partner – Siddhartha Desai, Senior Associate – Krupa Brahmbhatt, Associate – Sourav Modi, Junior Associate – Divya Shah
Arka’s practice area covers primarily equity capital markets issuances which covers a wide range of products such as Initial Public Offerings, Rights Issues, Qualified Institutions Placements, Initial Public Offering of Infrastructure Trusts and foreign currency convertible bonds.