Tega Industries’ IPO is an offering.
Tega Industries selling Rs 619 crore of shares through initial public offering (IPO) opened for registration on Wednesday, December 1. The company is selling shares in a price range of Rs 443-453 per share. The shares and issuance will end on December 3, 2021. Tega Industries’ IPO is an offer to sell in which its promoters Madan Mohan Mohanka, Manish Mohanka and Wagner Limited will sell off shares of Tega Industries. they passed an IPO.
Retail investors can bid for a minimum of one lot of 33 shares and a maximum of 13 lots. A lot of shares of Tega Industries will cost Rs 14,949 at the above price.
Tega Industries is a manufacturer and distributor of specialized, critical and recurring consumables for the global mining, extraction, and bulk solids handling industry. Globally, Tega Industries is the second largest producer of polymer liners, based on revenue for 2020.
The company has 18 global sales offices and 14 domestic sales offices located near key customers and operating locations. Tega Industries is continuing to expand operations in major markets including North America, South America, Australia and South Africa.
The Tega Industries IPO saw strong demand as the offering was fully booked within an hour of the sale.
Unlisted Arena’s Manan Doshi told NDTV: “The stock is being offered at a fair valuation during the IPO and the company’s performance over the past three years has been impressive.
On the gray market, shares of Tega Industries are quoting as high as Rs 375 per share according to market observers.
Axis Capital Limited and JM Financial Limited is the book that runs the main managers for the IPO wile Link Intime India Private Limited is the registrar of the issue.
