The public issue worth ₹1,023.47 crore got oversubscribed on first day of bidding as it got subscribed 1.09 times on 15th November 2021.
According to market observers Tarsons Products IPO grey market premium today is ₹180, which is ₹20 below from its yesterday’s GMP of ₹200. Market observers went on to add that Tarsons Products IPO grey market price has dipped for second successive day as it had come down from ₹230 to ₹200 on Monday.
Market observers maintained that grey market premium reflects about the listing gain expected by the grey market.
However, stock market experts said that GMP is not an official data and hence one should not rely on it so heavily.
Advising investors to subscribe Tarsons Products IPO; Astha Jain, Research Analyst at Hem Securities said, “Company is bringing the issue at price band of ₹635 to ₹662 per share at P/E multiple of 34 on post issue FY21 EPS .