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Tarsons Products shares extend gains to Rs 840, 27% premium over issue price

Shares of Tarsons Products continued to rise after making a solid start in the secondary market, despite a massive sell-off on Dalal Street amid concerns over a new COVID variant. Tarsons Products stock was stuck in the top 20% channel during afternoon trading, having been listed at a 6% premium earlier in the day. Tarsons shares were in high demand after its IPO received a strong response from investors.

On BSE, shares of Tarsons Products were frozen at the circuit level 20% higher at Rs 840 each on BSE, against its listing price of Rs 700. On NSE, the share was locked at Rs. 818.4 each.

Earlier today, Tarsons action debuted at Rs 700 each on BSE and Rs 682 each on NSE.

Tarsons Products is joining the majority of new entrants on Dalal Street this year, which has seen strong investor demand. Tarsons Products’ listing comes days after Latent View Analytics became the third best day listing winner on Dalal Street, after Sigachi Industries and Paras Defense and Space Technologies.

Investors can continue to own shares of Tarsons Products with a long-term view, said Santosh Meena, head of research at Swastika Investmart.

He suggests those who requested a quote gain to keep a stop loss at Rs 590. Risk-taking investors can also buy with the same stop loss, he said.

“Tarsons Products is backed by a strong management team with great brand awareness and high quality products … We can see profits being recorded in global inventory tracking indices amid concerns about a new variant of COVID-19 However, it is expected that we might see a demand for Tarsons products, ”he said.

“The Tarsons Products IPO price was 34 times higher in the first quarter of fiscal year 22 annualized at the high end of the price range,” added Meena.

The Tarsons Products IPO saw an overall subscription 77.5 times. The shares were available to bid on in the IPO in the price range of Rs 635-662 each in multiples of 22. Tarsons IPO received bids for a total of 84 crore of shares against 1.1 crore of shares offered. The IPO was available for subscription from November 15 to 17.


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