Tega Industries shares close flat on anchor investors’ lock-in expiry; scrip corrects 23% from listing price

Shares of Tega Industries ended flat with negative bias on Friday, the day deadline of anchor investors to sell shares concluded. As many as 12 stocks will see mandatory anchor lock-in expiry lifting this month. Shares of this mining company ended Rs 5.10 per share or 0.86 per cent lower to Rs 587.05 per share on the BSE on Friday.

As many as 41 lakh shares of Tega Industries were subcribed at the rate of Rs 453 per share. As many as 25 anchor investors were alloted 6.1 % of the total outstanding shares worth Rs 186 crore on November 30, 2021.

See Zee Business Live TV Streaming Below:

Among the major anhor investors, Ashoka India Equity Investment Trust Plc held 14% stake, Goldman Sachs Funds had 7.54% shares, Elara India, BNP Paribad Arbitrage and Kuber India held 2.69% each.

Tega Industries shares were listed at Rs 760 per share on the NSE on December 13. So far, at the CMP of Rs Rs 587 on Friday, the shares of this company has declined 22.76 per cent as on January 7, 2022.

The ₹619 crore-IPO of Tega Industries was subscribed over 219 times thanks to strong interest from High Networth Individuals (HNIs) and institutional bidders.

Traditionally, shares see profit booking on anchor investors’ lock-in expiry day.

Shares of Rakesh Jhunjhunwla backed Star Health and Allied Insurance, which also witnessed anchor investors' 30-day lock-in period ending,  also declined nearly 2 per cent or Rs 14.05 to Rs 766.35 per share on the BSE