Subscription to open from tomorrow; find all details here

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Subscription to open from tomorrow; discover all particulars right here

The Kolkata-based firm’s shares can be listed on the NSE and the BSE on 13 December

Tega Industries IPO: Subscription to open from tomorrow; find all details here

Representational picture. UpAerospace

One of many high mining corporations in India, Tega Industries is all set to open for subscription this week. The three-day preliminary public providing (IPO) will open for subscription from 1 to three December. The IPO is anticipated to fetch round Rs 619 crore with a worth band that has been set at Rs 443 to 453 per share.

Within the gray market right this moment, the share worth of Tega Industries has surged to Rs 310. The Kolkata-based firm’s shares can be listed on the Nationwide Inventory Alternate (NSE) and the BSE on 13 December. The IPO of Tega Industries is solely a suggestion on the market at 1,36,69,478 fairness shares by promoters and an present shareholder.

Monetary particulars on Tega Industries:

Promoter Madan Mohan Mohanka will offload as much as 33.14 lakh fairness shares and Manish Mohanka will promote 6.63 lakh fairness shares as a part of the supply on the market. By the supply on the market, Wagner, a associate of the US-based non-public fairness agency TA Associates, will offload 96.92 lakh fairness shares. 

As per the shareholding sample, promoter entities maintain 85.17 % stake in Tega Industries whereas Wagner has 14.54 %. 

Concerning promoters allocation, practically half of the problem measurement has been saved for certified institutional consumers (QIBs), 35 % for retail traders and the remainder 15 % for non-institutional traders. 

On the bidding restrict, traders can bid for no less than 33 fairness shares in multiples thereof. JM Monetary and Axis Capital are the service provider bankers to the general public problem.

Firm Historical past

Tega Industries is a Kolkata-based producer of consumables regarding the mining trade. The corporate gives complete options to the mining and bulk solids dealing with trade, marquee world shoppers within the mineral beneficiation by way of its broad product portfolio. 

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