Tega Industries initial public offering (IPO) witnessed a healthy demand so far. The public offer was subscribed 9.21 times during the second day of bidding. The retail category has been booked 14.44 times so far while the portion set aside for the non institutional bidders was subscribed 10.43 times. The quota reserved for qualified institutional bidders was booked 0.16 times till December 2.
Tega Industries IPO: Price and Other Details
Tega Industries IPO will remain open for subscription till December 3 and the company has fixed price band at Rs 443-453 per share. The Kolkata-based company aimed to raise Rs Rs 619.22 crore and the maiden issue is an entire offer for sale (OFS) of 1,36,69,478 equity shares by promoters and an existing shareholder.
Tega Industries IPO has half of the issue reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs) and 35 per cent for retail investors. Investors can bid in a lot of 33 equity shares and multiples thereafter. At the upper price band, a buyer need to shell Rs 14,949 to get a single lot of Tega Industries.
Tega Industries raised over Rs 185 crore (Rs 1,85,76,81,426) from 25 anchor investors in lieu of 41,00,842 equity shares at Rs 453 each, according to the data available at the stock exchange.
Tega Industries IPO: Company Profile
Started in 1976, Tega Industries is a leading manufacturer and distributor of specialised, critical, and recurring consumable products for the global mineral beneficiation, mining, and bulk solids handling industry. It is also the second largest producers of polymer-based mill liners, based on revenues for the year 2020. he company offers a wide product portfolio of specialized abrasion and wear-resistant rubber, polyurethane, steel, and ceramic-based lining components used by their customers across different stages of mining and mineral processing, screening, grinding, and material handling.
Spread across the globe, the company has total six manufacturing sites — three in India (at Dahej in Gujarat, and at Samali and Kalyani in West Bengal) and three sites in major mining hubs of Chile, South Africa, and Australia
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