Tega Industries IPO opens on December 1: Top 10 things to know

There are two initial public offers (IPOs) opening for subscription this week. Tega Industries and Rakesh Jhunjhunwala-backed Star Health and Allied Insurance Company will open between November 30 and December 3. The two IPOs aim to raise Rs 7,868 crore together. 

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Let's have a look at top 10 things about Tega Industries IPO 

1. Tega Industries IPO Price Band: Tega Industries IPO has fixed a price band of Rs 443-453 a share for its Rs 619-crore initial share-sale. 

2. Tega Industries IPO IPO open and close date: The three-day initial public offering (IPO) of manufacturer of consumables for the mining industry will open on December 1 and conclude on December 3, the company announced. 

3. Tega Industries IPO offer: The IPO is purely an offer of sale of 1,36,69,478 equity shares by promoters and a existing shareholder. As a part of the offer for sale, promoters Madan Mohan Mohanka will offload up to 33.14 lakh equity shares and Manish Mohanka will sell 6.63 lakh equity shares. In addition, Wagner, an affiliate of the US-based private equity firm TA Associates, will offload 96.92 lakh equity shares through the offer for sale. 

4: Tega Industries Promoters Holdings: Currently, promoter and promoter group hold 85.17 per cent stake in the company and Wagner owns 14.54 per cent shareholding. 

5: Tega Industries Promoters allocation: Half of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and 35 per cent for retail investors. 

6: Tega Industries IPO bidding limit: Investors can bid for a minimum of 33 equity shares and in multiples thereof. 

7: Tega Industries merchant bankers: Axis Capital and JM Financial are the merchant bankers to the public issue. The shares of the company will be listed on both BSE and NSE.

8 Tega Industries IPO listing: The Kolkata-based manufacturer of consumables for the mining industry will see the shares of the company listed on both BSE and NSE.

9. Tega Industries company details: Tega Industries offers comprehensive solutions to marquee global clients in the mineral beneficiation, mining and bulk solids handling industry, through its wide product portfolio. 

10:  Tega Industries IPO full timeline

Application start date: December 1, 2021

Application end date: December  3, 2021

Allotment beginning date: December  8, 2021

Refund initiation date: December  9, 2021

Allotment date: December 10, 2021

Listing Date: December 13, 2021

This comes following the successful conclusion of as many as 10 companies this month so far. The 10 companies include — One 97 Communication, which runs digital payments firm Paytm; FSN E-Commerce Ventures, owner of online beauty platform Nykaa, Policybazaar’s parent company PB Fintech, Fino Payments Bank, Latent View Analytics, Sapphire Foods India, SJS Enterprises, Sigachi Industries, Go Fashion and Tarsons Products. In 2021 so far, as many as 51 companies have floated their initial public offerings to raise over Rs 1 lakh crore, as per PTI. 
 

With Agency Inputs