[ad_1]

The IPO (Initial Public Offering) of Tega Industries will be listed on the Indian bourses- Bombay Stock Exchange (BSE) and National Stock Exchange (NSE)- on Monday, December 13. The public offering, with a price band of Rs 443-453 per equity share, was opened for subscription from December 1 to December 3. The allotment of shares was done on December 9.

The IPO of Tega Industries was subscribed 219 times over the issue offer size, making it one of the most successful issues launched this year. The portion reserved for QIBs (Qualified Institutional Buyers) was booked 215.45 times, Non-Institutional Investors (NIIs) subscribed 666.19 times and the retail portion saw 29.44 times subscription.

The issue is entirely an OFS (Offer for Sale) of 1,36,69,478 equity shares by promoters- Madan Mohan Mohanka and Manish Mohanka – and a shareholder. Madan and Manish will sell 33.14 lakh shares and 6.63 lakh shares respectively while shareholder Wagner will offload 96.92 lakh equity shares.

Tega Industries IPO Share Price & other details

  • Tega Industries IPO share price: Price band Rs 443-453 per equity share.
  • Listing date of Rs 443-453 per equity share IPO: December 13
  • The IPO was opened for subscription on December 1 and closed on December 3
  • Share allotment took place on December 9
  • Rs 610.22 crore IPO is completely an OFS

Tega Industries GMP: What to expect?

The shares of Tega Industries in the unofficial grey market has been trading at a hefty premium for the past few days. The GMP on Sunday was around Rs 300 which suggests a strong list on NSE and BSE on Monday. It indicates that the IPO will open at a premium.

About Tega Industries

Established in 1976, Tega Industries is one of the leading manufacturers of mining products such as specialised abrasion, wear-resistant rubber, polyurethane, steel and ceramic based lining components needed for mining and mineral processing among others. It is the second-largest producer of polymer-based mill liners and has manufacturing facilities in India, South Africa, Australia and Chile. It also exports products and solutions t more than 70 countries. “The company’s products have met with approvals from all major mining and mineral processing companies globally,” Tega Industries adds in its website.



[ad_2]

Source link

Leave a comment

Your email address will not be published. Required fields are marked *

three + twenty =

×