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Tarsons Products IPO subscribed more than 2 times, reserve share for retail investors filled 4 times

The IPO of Tarsons Products has been subscribed 2.1 times till 3 pm on the second day. The reserve portion for retail investors has so far received close to 4 times the bids.

Tarsons Products IPO Subscription Status: The IPO of Tarsons Products has got a decent response from investors. It has been subscribed 2.1 times till 3 pm on the second day of the IPO. Retail investors have shown interest in the issue and the reserve share for them has so far received close to 4 times the bids. The issue of Tarsons Products will be open for investment from November 15 to November 17. The company plans to raise Rs 1024 crore through IPO. Tarsons Products has fixed the price band for the IPO from Rs 635 to Rs 662.

which part how much subscribe

About 50 per cent of the IPO is reserved for qualified institutional investors. This part is subscribed 0.24 times so far. At the same time, 15 percent is reserved for non-institutional investors. This part is subscribed 0.39 times so far. 35 per cent has been reserved for retail investors and it has been filled 3.92 times so far. At the same time, the reserve share for the employees has been filled 0.90 times so far. Overall till now it is subscribed 2.11 times. Funds from the IPO will be used to pay off debt, set up a new manufacturing plant and for other corporate purposes.

About the IPO

Under this IPO, new shares worth Rs 150 crore have been issued. There is an offer for sale (OFS) of 1.32 crore equity shares. Under OFS, promoters of the company Sanjeev Sehgal will sell 3.9 lakh equity shares and Rohan Sehgal will sell 3.1 lakh equity shares. While the company’s investor Clear Vision Investment Holdings will sell its 1.25 crore shares. ICICI Securities, Edelweiss Financial Services and SBI Capital Markets are the book running lead managers to the issue.

The price band for the IPO of Tarson Products has been kept from Rs 635 to Rs 662 per share. The issue has a lot size of 22 shares. It is necessary to buy a lot. In terms of upper price band Rs 662, at least Rs 14564 will have to be invested in it. After this, investments can be made in multiples of 22 shares.

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