Tega Industries’ initial public offering (IPO) has received a strong response from investors, with 218 subscriptions received as of the last day.

Tega Industries IPO: Investors have reacted positively to Tega Industries’ initial public offering, which is a company that makes products for the mining industry. On the last day of subscription, Friday, it had been subscribed to 218.91 times. According to data from the exchanges as of 4:18 p.m., the IPO received bids for 209 crore shares, while the total number of shares on offer was 95.68 lakh.

Non-Institutional Investors (NII) received 666.19 subscriptions, Qualified Institutional Buyers (QIB) 215.45 subscriptions, and Retail Individual Investors (RII) 29.20 subscriptions. For this IPO, the company has set a price range of Rs 443-453 per share. Tega Industries’ initial public offering (IPO) on Wednesday was fully subscribed within an hour of its opening. Tega Industries raised Rs 186 crore from anchor investors on Tuesday.

This IPO is solely for the purpose of sale (OFS). The promoters and existing shareholders of the company have sold 1,36,69,478 equity shares under the OFS. Under the OFS, promoter Madan Mohan Mohanka sold 33.14 lakh equity shares and Manish Mohanka sold 6.63 lakh. Aside from that, Wagner, a subsidiary of TA Associates, a global private equity firm based in the United States, sold its entire stake in the company. Wagner owns 96.92 lakh shares of the company’s stock. In 2011, Wagner made a strategic investment in Tega Industries. The promoter and promoter group currently own 85.17 percent of the company, while Wagner owns 14.54 percent.

  • Tega Industries, which provides screening, mining, and material handling services to global mineral companies, began operations in 1978 in partnership with Skaga AB Sweden.
  • Tega Industries, based in Kolkata, offers a comprehensive product portfolio to global clients in the mineral beneficiation, mining, and bulk solids handling industries. It operates six manufacturing plants around the world.
  • The company generated revenue of Rs 85 crore in FY 2020 and Rs 805.52 crore in FY 2021, according to its financial statements. In FY 2020, the company made a profit of Rs 65.50 crore, and in FY 2021, it made a total profit of Rs 136.40 crore.
  • The public issue’s merchant bankers are Axis Capital and JM Financial. The company’s shares will be traded on both the BSE and the NSE.