Tega Industries IPO GMP, When and How to Check Allotment, Refund, Listing
Tega Industries IPO GMP, When and How to Check Allotment, Refund, Listing
Tega Industries IPO received a bumper response from investors as it was subscribed over 219 times, backed by non institutional subscribers

Tega Industries IPO: The Initial Public Offering, or IPO, of mining products manufacturer Tega Industries Limited saw a blockbuster subscription rate as it closed a day back. The issue was subscribed 219.04 times against its total size. This means the Tega Industries IPO received bids for 2,09,58,69,600  shares as against the issue size of 95,68,636 shares up for sale. The public issue, which opened earlier this week, ended a day back. The huge subscription rate was mostly backed by the non institutional buyers category. The Tega Industries IPO is expected to list on the stock markets on December 13, which is later this month. The Tega Industries stock will list on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Tega Industries IPO Subscription Status

Tega Industries IPO, the first such offer in December, was open between December 1 and December 3, during which it received overwhelming response from investors. The issue was oversubscribed 219.04 times, as it received bids for 2,09,58,69,600 shares against 95,68,636 shares. The non institutional buyers category was subscribed 666.19 times while qualified institutional buyers put in bids for 215.45 times the shares reserved for them. On the other hand, retail investors bid for 29.44 times the portion reserved for them.

Tega Industries IPO Share Allotment Date, Refund

The share allotment for Tega Industries IPO is likely to be done on December 8, Wednesday, while the refund date is reportedly December 9, as per data from IPO Watch. Credit to demat account will be done on December 10, Friday. Bidders can check their allotment status from December 9 via the BSE website. They can also check the status from the registrar Link Intime India’s website. The listing is to be done on December 13 as per reports.

Tega Industries IPO GMP Today

Tega Industries IPO GMP today was trading at Rs 410, as per data from IPO Watch. This was 90.50 per cent up from the upper end of the price band of Rs 453. The high grey market premium of Tega Industries IPO indicated a strong listing of the company at the stock markets later this month.

Tega Industries IPO Price Band, Key Details

Tega Industries has fixed the price band of its IPO at Rs 443-453 for one share. At the upper end of the price band, one lot of 33 shares costed Rs 14,949 per lot.

The entire issue was an Offer For Sale, and there were no fresh issue. A total of 1,36,69,478 equity shares will be sold during the offer by selling shareholders as well as existing promoters. The company seeks to raise up to Rs 619.22 crore though the offer.

The Kolkata-based company will not receive any proceeds from the issue and the entire amount will go to to the selling shareholders.

Started in 1976, Tega Industries is a leading manufacturer and distributor of specialised, critical, and recurring consumable products for the global mineral beneficiation, mining, and bulk solids handling industry. It is also the second largest producers of polymer-based mill liners, based on revenues for the year 2020. he company offers a wide product portfolio of specialized abrasion and wear-resistant rubber, polyurethane, steel, and ceramic-based lining components used by their customers across different stages of mining and mineral processing, screening, grinding, and material handling.

Spread across the globe, the company has total six manufacturing sites — three in India (at Dahej in Gujarat, and at Samali and Kalyani in West Bengal) and three sites in major mining hubs of Chile, South Africa, and Australia.

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