Tega Industries made a strong stock market debut on Monday. Shares of Tega Industries were listed at Rs 753 per share on the BSE against the issue price of Rs 453 per share. This was a gain of Rs 300 per share or 66.23 per cent.  

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Zee Business Managing Editor Anil Singhvi earlier on Monday had said that Tega Industries stocks would be listed around Rs 700-750 range against issue price of Rs 453. "Investors keep a stop loss of 650 and keep trailing," he had recommended.  

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Aayush Agrawal, Sr. Research Analyst - Merchant Banking, Swastika Investmart Ltd, earlier had also predicted a strong debut for Tega Industries stocks. He said the Tega industry is likely to debut secondary market on a strong note despite being a complete OFS. The fundamentals of the company are very sound whereas valuations are also attractive, said the analyst. "Grey market premium is suggesting a listing gain of around 60-70%," said Aayush Agrawal.  

Earlier, the initial public offer of Tega Industries was subscribed by over 219 times on the last day of offer. The IPO received bids for 2,09,58,69,600 equity shares as compared to 95,68,636 equity shares offered.

The three-day initial public offer (IPO) opened on December 1, 2021, and concluded on December 3. Tega Industries IPO had fixed a price band of Rs 443-453 a share for its Rs 619-crore initial share sale.  Investors were allowed to bid for a minimum of 33 equity shares and in multiples thereof.  

The IPO was purely an offer of sale of 1,36,69,478 equity shares by promoters and an existing shareholder. As a part of the offer for sale, promoters Madan Mohan Mohanka had offloaded 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.  

The Kolkata-based manufacturer of consumables for the mining industry will see the shares of the company listed on both BSE and NSE.  Tega Industries offers comprehensive solutions to marquee global clients in the mineral beneficiation, mining, and bulk solids handling industry, through its wide product portfolio.