Tega Industries shares to be listed on Monday – 10 key things to know about IPO, company

After a successful initial public offering (IPO), Kolkata-based Tega Industries is all set to debut the secondary market on Monday. According to the company, the IPO has achieved highest subscription from qualified institutional buyers (QIB) category in a decade. On the last day of subscription, the QIB portion was subscribed 215.45 times. Overall, the issue was oversubscribed by 219.04 times, the company said in a press release.

Previously, the QIB portion of HDFC Asset Management Company was subscribed 192.26 times, followed by Indigo Paints 189.57 times, Tatva Chintan 185.23 times and Mrs. Bectors Food Specialties 176.85 times, the release added.

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Here are the important details related to Tega Industries IPO & the company -

• The IPO was open for subscription for three days – from December 1 to 3 in the price range of Rs 443-453 per share. The lot size was - 33.
• The Rs 619.23 crore IPO received a very good response from investors as it was over-subscribed by more than 219 times.
• According to Tega Industries, retail investors had put in bid 29.44 times the shares reserved for them.
• The portion set aside for non-institutional investors was subscribed by a whopping 666.19 times.
• The primary offering was entirely an offer for sale (OFS) shares with a face value of Rs 10 each, in which its existing shareholders and promoters stood to offload 1,36,69,478 equity shares in the range of Rs 443-453 each.
• Tega Industries offers comprehensive solutions to global clients in the mineral beneficiation, mining and bulk solids handling industry across different stages of mining and mineral processing, screening, etc.
• Globally, on the basis of revenues, Tega Industries are the second-largest producer of polymer-based mill liners as of June 30, 2021, said the company in a release.
• Its product portfolio comprises more than 55 mineral processing and material handling products, that covers a wide range of solutions in the mining equipment, aggregates equipment and the mineral consumables industry.
• Revenue from operations increased 17.62% from Rs 684.85 crore in fiscal 2020 to Rs 805.52 crore in fiscal 2021, primarily attributable to an increase in the sale of products.
• Its net profit increased from Rs 65.50 crore in fiscal 2020 to Rs 136.41 crore.