Tega Industries IPO Opens Today: Here's Everything You Need To Know

New Delhi: The Initial Public offering (IPO) of Tega Industries opened on Wednesday for subscription.

The price band has been fixed at Rs 443-453 per share and the issue can be subscribed till December 3, 2021.

Under this IPO, a total of 1,36,69,478 shares will be offered for sale by the promoters and shareholders of Tega Industries.

The company's promoters Madan Mohan Mohanka, Manish Mohanka and Wagner limited are offloading their shares via IPO as Tega Industries IPO is an offer for sale.

The one lot of the company's share will cost Rs 14,949 at the upper price band and a retail investor can place bids for minimum one lot of 33 shares upto maximum of 13 lots.

Presently, 85.17 per cent stake in Tega Industries is held by its promoters, while Wagner holds 14.54 per cent in the company.

Axis Capital and JM Financial are the book running lead managers to the offer while Link Intime India is the registrar of the issue.

The allotment of the share is likely to take place on December 8, 2021, while listing of the shares are expected to be on December 13, 2021, according to the timeline given in the red herring prospectus (RHP).

Tega Industries IPO GMP

According to market observers, in the grey market, Tega Industries stock was quoting at a premium of Rs 375 per share according to market observers.

Tega Industries Products

In terms of revenue, Tega Industries is the second largest manufacturer of polymer based mill liners in the country. Tega Industries Company was established in 1978 in India in association with Skja AB of Sweden. Later on, promoter Madan Mohan Mohanka bought the entire stake of Skaja AB in the company in 2001.

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