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Labware products maker Tarsons files DRHP

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Tarsons Products Ltd has filed a draft paper with the Securities Exchange Board of India (Sebi) to raise funds via an initial public offering (IPO). The IPO consists of a fresh issue of INR 150 crore and an offer for sale (OFS) of upto 13.20 million shares by existing shareholders and promoters. ICICI Securities, Edelweiss Financial Services and SBI Capital Markets are the lead managers to the issue. The OFS comprises up to 3.90 lakh shares by Sanjive Sehgal, upto 3.10 lakh shares by Rohan Sehgal and upto 12.50 million shares or 24.5% stake by Clear Vision Investment Holdings Pte Ltd. Currently, Sanjive Sehgal and Rohan Sehgal hold 29.16% and 21.81% stake, respectively, while Clear Vision Investment has 49% stake in the firm. Out of the proceeds, INR 75 crore will be used to pay debt and INR 54 crore will be used to fund capital expenditure for the company's new manufacturing facility at Panchla, West Bengal. The firm manufactures a range of labware products. As of March 2021, it had a diversified product portfolio with over 1,700 stock-keeping units across 300 products.