Kolkata, Nov 10 (PTI) IPO bound leading life sciences company Tarsons Products which has five manufacturing bases in West Bengal said it has no current plans for manufacturing plans other than this state as it has all technical capabilities to serve the domestic and export markets, an official said on Wednesday.

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The company which earns one-third revenue from exports said it will further expand its footprint in the overseas markets and explore having a direct international presence in future similar to MNCs.

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The company, which will be hitting the capital market on November 15 has fixed a price band of Rs 635-662 a share for its Rs 1,024-crore initial share-sale. The issue will remain open till November 17 and the bidding for anchor investors will open on November 12, the company announced.

"We have five manufacturing plants here and we are installing a large facility in the state and these plants are sufficient and capable to cater to the domestic and export markets. We do not have any immediate plans for new plants at other locations," the company's CFO Santosh Agarwal told reporters.

The company is likely to become the country's first company in the manufacturing of PCR and cell culture products segment. Globally, the market for such plastic laboratory products is estimated at Rs 24,000 crore and dominated by a few developed countries, an official said.

"We are exporting our goods to some countries and we will in phases want to touch 30-35 countries in near future and eventually to 120 countries in phases with our advanced products. We do not rule out having direct presence in other international markets... ," Agarwal said when asked about overseas market plans.

About 65-68 per cent of Tarsons revenue comes from India and the rest from global markets. A decade ago, the domestic operations contributed around 95 per cent of the turnover.

Total income stood at Rs 234 crore in FY 21, of which, exports, mostly to the US and Europe markets, contributed Rs 75 crore.

"There is no company in India into Polymerase Chain Reaction (PCR) and cell/tissue culture space. Globally, there are a few firms in this segment. The company has already developed the first two phases of the PCR products in the last five months and will develop the next two phases by the end of this financial year. We will be the first Indian company into this segment," Tarsons chairman and managing director Sanjive Sehgal recently told PTI.

The sixth and the largest facility at Panchla, about 49 km from Kolkata will spread across five acres of land, and will be partly funded from the IPO proceeds.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)