Tega Industries IPO Subscribed 13.87 Times On Second Day Of Issue

Tega Industries IPO received bids for 13,26,78,876 shares against 95,68,636 shares on offer

Tega Industries IPO Subscribed 13.87 Times On Second Day Of Issue

Tega Industries IPO was subscribed 13.87 times on second day of issue

Tega Industries Limited's initial public offer (IPO) was subscribed 13.87 times on the second day of its issue on Thursday. It had opened on December 1, 2021.

A manufacturer of consumables for the mining industry, Tega Industries' IPO received bids for 13,26,78,876 shares against 95,68,636 shares on offer, according to data available with the exchanges.

The category for non-institutional investors was subscribed 20.48 times, those for retail individual investors (RIIs) 17.04 times and qualified institutional buyers (QIBs) 3.35 times.

The initial public offer is of up to 13,669,478 equity shares and is in a price range of Rs 443-453 per share.

The initial public offer of Tega Industries was fully subscribed within one hour of opening on Wednesday (December 1).

Earlier on November 30, Tega Industries had said it has garnered Rs 186 crore from anchor investors.

Kolkata-based Tega Industries offers comprehensive solutions in the mineral beneficiation, mining and bulk solids handling industry through its wide product portfolio.

Axis Capital and JM Financial are the managers to the offer. Its shares will be listed both on the BSE and NSE. 

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