Tega Industries Shares: The company’s initial public offering of shares saw a strong demand.
New Delhi: Shares of Tega Industries made a stellar debut on exchanges on Monday. Shares are listed at Rs 760, 67.77% higher than the issue price of Rs 453.
The sale of crore shares worth Rs 619 through initial public offering (IPO) was open for registration from December 1 to 3 with a price range of Rs 443-453 per share.
Retail investors can bid on a minimum of one lot of 33 shares up to a maximum of 13 lots. A lot of shares of Tega Industries will cost Rs 14,949 at the above price.
The IPO saw a strong demand as the issuance was fully booked within an hour of the sale.
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’s promoters Madan Mohan Mohanka, Manish Mohanka And Wagner Ltd have sold off their shares through a public offering.
Tega Industries obtained Rs 186 crore from anchor investors prior to the IPO. Axis Capital Limited and JM Financial are the public affairs managers.
Axis Capital Limited and JM Financial Limited are the key management books for IPOs; while Link Intime India Private Limited is the registrar for this matter.
