Home / Markets / Ipo /  Lab-ware maker Tarsons Products IPO to open on Nov 15. See details
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Life sciences company Tarsons Products will open its initial public offering (IPO) for public subscription on November 15, Monday next week. The company will announce the upcoming IPO in a press conference on Wednesday. The three-day initial share sale will close on November 17, according to the red herring prospectus (RHP) filed by Tarsons.

The IPO comprises fresh issuance of equity shares worth 150 crore and an offer for sale (OFS) of 1.32 crore equity shares by promoters and an investor.

As a part of the OFS, promoter Sanjive Sehgal will offload up to 3.9 lakh equity shares and Rohan Sehgal will sell up to 3.1 lakh equity shares -- and investor Clear Vision Investment Holdings Pte Ltd will divest up to 1.25 crore equity shares. Tarsons IPO will include a reservation for employees.

Tarsons will use the proceeds from the IPO towards paying debt, funding a part of the capital expenditure for the new manufacturing facility at Panchla in West Bengal, and general corporate purposes.

Tarsons Products is engaged in designing, developing, manufacturing and supplying a diverse range of quality lab-ware products used in laboratories across research organisations, academic institutes, pharmaceutical firms, diagnostics companies and hospitals.

It manufactures a range of quality lab-ware products that helps advance scientific discovery and improve healthcare.

The company currently operate through its five manufacturing facilities located in West Bengal.

ICICI Securities, Edelweiss Financial Services and SBI Capital Markets have been appointed as merchant bankers to advise the company on the IPO. The equity shares will be listed on BSE and NSE.

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