Tega Industries IPO: Price band set at Rs 443-453 per share

The three-day initial public offering (IPO) will open on December 1 and conclude on December 3, the company announced.

Wagner, an affiliate of the US-based private equity firm TA Associates, will offload 96.92 lakh equity shares through the offer for sale. Pic: Website of Tega Industries

Tega Industries, manufacturer of consumables for the mining industry, on Friday said it has fixed a price band of Rs 443-453 a share for its Rs 619-crore initial share-sale.

The three-day initial public offering (IPO) will open on December 1 and conclude on December 3, the company announced.

The IPO is purely an offer of sale 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.

Currently, promoter and promoter group hold 85.17 per cent stake in the company and Wagner owns 14.54 per cent shareholding.

At the upper end of the price band, the initial public offering is expected to fetch Rs 619.22 crore.

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.

Investors can bid for a minimum of 33 equity shares and in multiples thereof.

The Kolkata-based Tega Industries offers comprehensive solutions to marquee global clients in the mineral beneficiation, mining and bulk solids handling industry, through its wide product portfolio.

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.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

Tega Industries IPO: Price band set at Rs 443-453 per share

The three-day initial public offering (IPO) will open on December 1 and conclude on December 3, the company announced.

RECOMMENDED STORIES

PPF Calculations: How to get Rs 72,000 a month tax-free income from Public Provident Fund?

Top 7 Large and Mid Cap Mutual Funds With up to 21% SIP Returns in 10 Years: Rs 11,111 monthly SIP investment in No. 1 fund has sprung to Rs 40,45,114; know about others

Want to use market crash as a buying opportunity? Analysts suggest buying Bharti Airtel, HDFC Life and 3 more shares for up to 39% gains

Rs 3,500 Monthly SIP for 35 years vs Rs 35,000 Monthly SIP for 16 Years: Which can give you higher corpus in long term? See calculations

Power of Compounding: How soon will monthly SIP of Rs 11,000 reach Rs 8 crore corpus target?