Tega Industries IPO: Mining products maker Tega Industries Ltd’s initial public offering, or IPO, saw a blockbuster subscription rate since it closed the day before. The issue was subscribed 219.04 times against its total size. It means Tega Industries IPO Bids were received for 2,09,58,69,600 shares against an issue size of 95,68,636 shares for sale. The public offering, which opened earlier this week, ended a day earlier. The high subscription rate was mostly supported by a range of non-institutional buyers. The Tega Industries IPO is expected to be listed on the stock exchanges on December 13, which is later this month. Tega Industries stock will be listed on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Tega Industries IPO Membership Status
Tega Industries IPO, In December, the first such offer was opened between December 1 and December 3, during which it received an overwhelming response from investors. The issue was oversubscribed 219.04 times as it received bids for 2,09,58,69,600 shares as against 95,68,636 shares. The category of non-institutional buyers was subscribed 666.19 times, while qualified institutional buyers bid for 215.45 times of the shares reserved for them. On the other hand, retail investors bid for 29.44 times of the share reserved for them.
Tega Industries IPO Share Allotment Date, Refund
According to data from IPO Watch, the share allotment for Tega Industries IPO is likely to happen on Wednesday, December 8, while the refund date is reportedly December 9. Credit to the demat account will be done on Friday, December 10. Bidders can check their allotment status through BSE website from December 9. They can also check the status from the website of Registrar Link Intime India. According to reports, the listing is to be done on December 13.
Tega Industries IPO GMP Today
According to IPO Watch data, Tega Industries IPO GMP was trading at Rs 410 today. It was up 90.50 per cent from the upper end of the price band of Rs 453. The high gray market premium of the Tega Industries IPO indicated a strong listing of the company on the stock exchanges later this month.
Tega Industries IPO Price Band, Key Specifications
Tega Industries has fixed the price band of its IPO at Rs 443-453 for one share. Of the 33 stocks, one lot was priced at Rs 14,949 per lot at the upper end of the price band.
The entire issue was an offer for sale, and there was no fresh issue. A total of 1,36,69,478 equity shares will be sold during the offer to the shareholders as well as the existing promoters. The company wants to raise up to Rs 619.22 crore through the offer.
The Kolkata-based company will not receive any proceeds from the issue and the entire amount will go to the selling shareholders.
Started in 1976, Tega Industries is a leading manufacturer and distributor of specialized, critical and recycled consumable products for the global mineral beneficiation, mining and bulk solids handling industry. It is also the second largest producer of polymer-based mill liners in terms of revenue for the year 2020. He offers a wide product portfolio of specialized abrasion and wear-resistant rubber, polyurethane, steel and ceramic-based lining components used by the company. Their clients in various stages of mining and mineral processing, screening, grinding and material handling.
Spread across the globe, the company has a total of six manufacturing sites – three in India (in Dahej in Gujarat, and Samali and Kalyani in West Bengal) and three in major mining centers in Chile, South Africa and Australia.
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