Tega Industries IPO was registered 219.04 times on the last release date
Tega Industries’ initial public offering (IPO) was registered 219.04 times on the third and final day of issuance, according to registration data on stock exchanges. The Kolkata-based leading manufacturer’s IPO opened its doors on December 1 and ended today, December 3 – remaining open to investors for a three-day period.
The company plans to raise Rs 619.22 crore at the above price. An IPO is purely an offering (OFS) of 1,36,69,478 shares by sale to shareholders and promoters.
On Wednesday, the section dedicated to non-institutional investors was registered 666.19 times – the highest among the three investor groups. The section for qualified institutional buyers or QIBs was registered 215.45 times, while the section for retail individual investors was registered 29.44 times.
Tega Industries has fixed the price range at Rs 443-453 per share for the IPO. Investors can bid on a minimum of 33 shares and multiples of 33 shares thereafter. Retail individual investors can invest a minimum of Rs 14,949 per lot and the maximum investment will be Rs 1,94,337 for 13 lots.
Axis Capital and JM Financial are the lead managers of this offer.
