Tega Industries IPO: 3 day subscription for public issue price The Rs 619 crore bid that ended yesterday drew a bid of 219.04 times its offer. The issue was subscribed 29.44 times in the Retail category, 215.45 times in the QIB category and 666.19 times in the NII category. Seeing this strong IPO subscription from Tega Industries, both Gray Market and its observers are extremely excited about the public offering. Shares of Tega Industries are available at a premium 425 in the gray market today.
Tega Industries IPO GMP
As per market observers, Tega Industries IPO Gray Market Premium (GMP) is today 425, which is 5 More Than Yesterday’s GMP 420. He added that the rising GMP and strong membership position is on account of the company’s fair pricing and growth potential. He added that Tega Industries IPO has continued to grow despite the high volatility in the GMP stock market, which is expected to be strongly reflected on its listing date, which is likely to be December 13, 2021.
Market observers further said that the fair valuation of the public issue has helped Tega Industries shares maintain its uptrend in the gray market. Moreover, strong response from the bidders, which is reflected in the IPO subscription status of Tega Industries, has also helped the gray market to maintain the bullish trend on the public issue.
What does this GMP mean?
Market observers said the gray market premium is the listing profit estimated by the gray market with respect to the IPO. Tega Industries’ IPO Is Today as GMP 425, it simply means that the gray market is expecting Tega Industries IPO listing to happen 878 ( 453 + 425), which is about 93 percent higher than the price band of from 443 453 per equity share.
However, stock market observers said that the gray market premium is an unofficial data and has nothing to do with the company’s balance sheet. He said that the fundamentals and valuation of a company determines whether a public issue is strong or weak.
Tega Industries IPO applicable or not?
What does this Tega Industries IPO Subscription Status represent; Abhay Doshi, Founder, UnlistedArena.com, said, “The market is very selective with respect to IPOs and funds are flowing on issues that offer better opportunities. Tega Industries IPO received a good response due to reasonable pricing and growth prospects. Therefore, Tega appears to be a candidate for a strong listing advantage.”
Tega Industries IPO Details
The share allotment of Tega Industries is expected on 8 December 2021 while the listing of shares is expected on 13 December 2021.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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