New Delhi:Shares of Tarson Products opened on Friday at a premium of 5.76 per cent to its offer price, joining domestic companies that have made a stellar start to the market in 2021.
Tarson Products opened at Rs.700 against the offer price of Rs.662 on the BSE Index. The stock opened at Rs 682 on the NSE platform.
Soon after the opening, the stock rose over 20 per cent to hit a high of Rs 808.
The initial public offering (IPO) of the Indian labware company was subscribed 77.49 times last week, mainly buoyed by the huge interest shown by retail investors.
According to NSE data, in the Rs 1,023.84 crore IPO, bids were received for 84,02,81,684 shares, while there were 1,08,44,104 shares on offer.
The IPO consisted of a fresh issue of up to Rs 150 crore and an offer for sale of 1,32,00,000 equity shares.
The Non-Institutional Investor Category (NII) subscribed 184.58 times for the IPO of Tarson Products. Qualified Institutional Buyers (QIBs) were subscribed 115.77 times, while Retail Individual Investors (RIIs) were subscribed 10.56 times.
The SEBI-registered investment advisor said, “The ongoing COVID-19 pandemic has provided a major impetus to companies engaged in scientific research and health systems improvement. Tarson Products has been recognized as one of the most preferred vendors in the plastic labware space. status.” INDmoney has said in a report.
Tarson Products is engaged in designing, developing, manufacturing and supplying a variety of quality labware products to be used in laboratories in research organizations, academic institutions and pharmaceutical firms.