New Delhi, Business Desk. Shares of life sciences company Tarsons Products were listed on the NSE on Friday at a premium of 3% at Rs 682 per share. Whereas the issue price of the IPO was Rs 662 per share. Till the time of writing the news, the shares of Tarson Products were trading at 763.60 on BSE.

The IPO of Tarsons Products Limited was subscribed 77.49 times on the last day, aided by huge interest from institutional investors. In the Rs 1,023.8 crore IPO, bids were received for 84,02,81,684 shares, while 1,08,44,104 shares were offered.

According to brokerage house Swastika Investments, the company received good response from investors and the IPO was subscribed 77 times. The company is one of the leading Life Sciences suppliers in India. The company aims to become debt free after the IPO and is planning capex, which will further increase revenue.

The brokerage house said that we may see profit-booking in the stock in view of global cues on concerns of a new variant of Kovid-19. However, it is expected that the demand for Tarsan products will increase. Investors who applied for listing gains can maintain a stop loss of 590, while long-term investors can hold the stock. Other investors can also buy the stock with the same stop-loss.

The IPO consisted of a fresh issue of up to Rs 150 crore and an Offer for Sale (OFS) of 1,32,00,000 equity shares. Its price band was Rs 635-662 per share. Tarson Products had raised Rs 306 crore from anchor investors ahead of its three-day public offering which opened on November 15 and closed on November 17.

The IPO of Tarson Products consists of sale of fresh equity shares of Rs 150 crore and offer for sale of 1.32 crore equity shares by the promoters and an investor.

Edited By: Ashish Deep