Tarsons Products Limited IPO
Tarsons Products Limited
Rs.13,970
/ 22 shares
Minimum Investment
IPO Details:
IPO date:
15th Nov - 17th Nov’ 21
Issue size:
Rs. 1,023.35 crores
Listing at:
BSE & NSE
Retail quota:
35%
IPO price:
Rs.635 to Rs.662 per equity share
Minimum lot size:
22 equity shares and in multiples of 22 thereafter
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Company Background
Tarsons Products Limited is an Indian labware 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).
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The company manufactures a range of quality labware products which helps advance scientific discovery and improve healthcare (Source: Frost & Sullivan Report). As of June 30, 2021, Tarsons Products had a diversified product portfolio with over 1,700 Stock Keeping Unit (SKUs) across 300 products.
Their product portfolio is classified into three key categories which include consumables, reusables, and others. Consumables category includes products such as centrifuge ware, cryogenic ware, liquid handling, PCR consumables and petri dish, transfer pipettes and others. Reusables category includes products such as bottles, carboys, beakers, measuring cylinders and tube racks. Other category includes benchtop instrumentation such as vortex shakers, centrifuges pipettors and others.
The company currently operates through their five manufacturing facilities located in West Bengal. They cater to a diverse range of end customers across various sectors which include research organizations, academic institutions, pharmaceutical companies, CROs, diagnostic companies, and hospitals. They distribute their products to the end customers on a pan-India basis through their authorised distributors.
Let us now look at a few competitive strengths and strategies of Tarsons Products Limited
Competitive Strengths
+ Leading Indian Supplier to Life Sciences Sector with Strong Brand Recognition and Quality Products: Tarsons Products is an Indian labware company engaged in the designing, development, manufacturing and marketing of consumables, reusables and bench-top equipment according to the Frost & Sullivan Report. The company believes that with over 36 years of experience in this space, it has successfully built ‘Tarsons’ into a leading Indian company in terms of revenue in the plastic labware market in India (Source: Frost & Sullivan Report) and gained expertise in the production of a wide range of labware products. In 2020, the company had a market share of 9% to 12.00% of the labware market in India, according to the Frost & Sullivan Report. Their ability to offer differentiated, user friendly, reliable quality, and cost-effective products has enabled them to develop strong brand recognition and consumer loyalty in key domestic and overseas markets.
+ A Diverse Range of Labware Products Across Varied Customer Segments: Tarsons Products are among the top three labware manufacturing companies in India, providing an extensive range of laboratory consumables, reusables and others product categories (Source: Frost & Sullivan Report). Since its inception, the company has expanded its range of labware offerings and achieved economies of scale in its manufacturing operations alongside its product portfolio which has enabled them to service new markets and explore new product offerings to its customers. The company has also developed customized products to suit specific requirements of its customers. For instance, Tarsons Products manufactured Ria vials for a CRO in India and PCR tube and strips for a diagnostics company in India, customized to their testing kit. The company also manufactured a custom heavy duty bottle with capacity of five litres for a customer in Israel.
+ Well-Equipped and Automated Manufacturing Facilities: Tarsons Products currently operates in five manufacturing facilities in West Bengal as of June 30, 2021. The company's manufacturing capabilities are vertically integrated with design and development being carried out in-house. All its manufacturing facilities have injection moulding and extrusion blow moulding machines which are well complemented with advanced automation technologies. The company has the ability to work with multi cavity moulds up to 32 cavities. Their experienced engineering team, in collaboration with overseas partners, have developed customized moulding and automation solutions suitable to its requirements. Most of the company's products are required to be manufactured in a clean aseptic environment for the products to be free from any detectable DNase, RNase and endotoxins. To achieve this, Tarsons Products manufactures its products in fully validated and third-party certified ISO 8 clean rooms.
+ Wide Geographic Reach Through PAN India Sales and Distribution Network: Tarsons Products has a PAN India sales and distribution network that enables the company to cater to a wide range of end customers, thereby ensuring effective penetration of its diverse range of products. The company's distribution network across India comprises over 141 authorized distributors as at June 30, 2021. Its extensive and dedicated distribution network enables the company to serve its customers in an efficient and timely manner. Additionally, the company has a presence in the overseas market as well making it one of the few Indian players to have a global reach in the labware market (Source: Frost & Sullivan Report). The company has developed strong partnerships with its distributors to represent and market its branded products in markets spanning across Asia Pacific, Middle East and Latin America. The company also has strategic partnerships for ODM sales with companies based out of the USA and Europe. Its distribution network globally comprises over 45 authorized distributors and partners as at June 30, 2021. As of Fiscal 2021, the company supplied products to over 40 countries.
Key Strategies
Here are a few strategies Tarsons Products Limited has for its business:
Strengthening foothold in its existing markets and expanding its product portfolio
Enhancing its manufacturing capacities in existing product categories to leverage industry growth drivers
Increasing its global footprint in the overseas market
Continue to focus on maintaining operational efficiency and profitability
Key Financials
And finally, here’s a look at key financials of Tarsons Products Limited
Revenue from operations
Particulars (in Rs. million)
Particulars (in Rs. million)
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Top Tarsons Products LimitedIPO FAQs
The Tarsons Products IPO has an issue size of around Rs. 1,023.35 crores with 35% allotted to retail quota.
The allotment dates are on or around November 23, 2021. (Source: Chittorgarh.com)
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE and NSE.
The dates are yet to be decided.
You can read more about Tarsons Products and its IPO from the company’s red herring prospectus (RHP) here.
