Tega Industries’ three day Initial Public Offering (IPO) Will be open for public subscription during December 1-3. The price band is set at 443-453 per share and is expected to receive an initial public offering at the upper end of the price band 619 crores.
As per market observers, Tega Industries share premium (GMP) has increased 310 in gray market today. The shares of the company are expected to be listed on major stock exchanges NSE and BSE on 13th December, 2021.
The IPO of Tega Industries, a manufacturer of consumables for the mining industry, is purely an offer for sale of 1,36,69,478 equity shares by the promoters and an existing shareholder.
Under the offer for sale, promoter Madan Mohan will sell 33.14 lakh equity shares and Manish Mohanka will sell 6.63 lakh equity shares. In addition, Wagner, an affiliate of US-based private equity firm TA Associates, will sell 96.92 lakh equity shares through an offer for sale. Axis Capital and JM Financial are the book running lead managers of the issue.
Kolkata-based Tega Industries, through its wide product portfolio, provides comprehensive solutions to global clients in the mineral beneficiation, mining and bulk solids handling industry. Its net profit for FY 2021 was 136 cr vs 65 crores in the previous year, while the total income for the period increased by 856 crores as against 695 crores a year ago.
The firm has six manufacturing sites, three of which are in Dahej, Gujarat in India and Samali and Kalyani in West Bengal, and three sites in major mining centers in Chile, South Africa and Australia, with a total built up area of 74255 sq. , mts
Never miss a story! Stay connected and informed with Mint.
download
Our App Now!!
,