Tarsons has decent listing

Tarsons got listed today and the word which comes to mind is “decent.” As against the IPO price of Rs.662, it got listed on the BSE at Rs.700, going up to a high of Rs.832.

This Kolkatta based laboratory equipment manufacturer saw its IPO getting subscribed 77.5 times with the retail portion seeing a fantastic response at 10.56 times, getting filled up with a hour of opening. QIBs portion was at 115.77 times and HNIs at 184.58 times.

In our IPO Analysis, we had concluded, “Company’s likely double-digit revenue growth and high margins are attractive. But, pricing appears to have left little on the table, given RoE to contract going forward and peaking-out of valuation multiples for pharma sector in general, on covid tapering. Hence, only those with long term view may consider the IPO.”