Kolkata-based life-sciences company Tarsons Products has filed draft red herring prospectus (DRHP) with SEBI for its proposed initial public offering.
The company is looking to raise close to ₹150 crore through a fresh issue and an offer for sale of up to 3.9 lakh equity shares by Sanjive Sehgal, up to 3.1 lakh shares by Rohan Sehgal (Sanjive and Rohan Sehgal together being promoter selling shareholders) and up to 1.25 crore shares by Clear Vision Investment Holdings Pte Ltd (the investor selling shareholder).
Tarsons Products is engaged in the designing, development, manufacturing and marketing of consumables, reusables and ‘others’ including benchtop equipment, used in various laboratories across research organisations, academia institutes and pharmaceutical companies among others.
Private placement
The company, in its draft papers said, it may consider a private placement for cash consideration aggregating up to ₹30 crore, at its discretion, prior to filing of the Red Herring Prospectus with the ROC. If the pre-IPO placement is undertaken, the amount raised from the same would be reduced from the fresh issue.
The company proposes to utilise the net proceeds from the issue towards repayment/prepayment of all or certain of borrowings; funding a part of the capital expenditure for the new manufacturing facility at Panchla, West Bengal and general corporate purposes.
ICICI Securities, Edelweiss Financial Services and SBI Capital Markets are the Book Running Lead Managers to the offer.
The equity shares are proposed to be listed on BSE and NSE.