Tarsons Products Limited files DRHP with SEBI. Tarsons Products Ltd. (“TPL” or the “Company”), a leading Indian life sciences company engaged in the designing, development, manufacturing and marketing of ‘consumables’, ‘reusables’ and ‘others’ including benchtop equipment, used in various laboratories across research organizations, academia institutes, pharmaceutical companies, Contract Research Organizations (“CROs”), Diagnostic companies and hospitals (Source: Frost & Sullivan Report), filed its DRHP with SEBI.
The Initial Public Offer (IPO) consists of equity shares of face value of ₹2 each (“Equity Shares”) of Tarsons Products Limited comprising a fresh issue aggregating up to ₹1,500 million by the Company (the “Fresh Issue”) and an offer for sale of up to 390,000 equity shares by Sanjive Sehgal, up to 310,000 equity shares by Rohan Sehgal (Sanjive Sehgal and Rohan Sehgal together “Promoter Selling Shareholders”) and up to 12,500,000 equity shares by Clear Vision Investment Holdings Pte. Limited (the “Investor Selling Shareholder”). The offer includes a reservation for subscription by eligible employees (the “Employee Reservation Portion”).
The company may consider a private placement for cash consideration aggregating up to ₹300 million, at its discretion, prior to filing of the Red Herring Prospectus with the ROC (“Pre-IPO Placement”). If the Pre-IPO placement is undertaken, the amount raised from the Pre-IPO placement will be reduced from the fresh issue.
The Company proposes to utilise the Net Proceeds towards: (i) Repayment/prepayment of all or certain of borrowings; (ii) Funding a part of the capital expenditure for the new manufacturing facility at Panchla, West Bengal (the “Proposed Expansion”); and (iii) General corporate purposes.
The Book Running Lead Managers to the offer are ICICI Securities Limited, Edelweiss Financial Services Limited and SBI Capital Markets Limited.
The equity shares are proposed to be listed on BSE and NSE.
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