Tega Industries IPO To Open On December 1

Tega Industries initial public offer (IPO), which is worth Rs 619.23 crore, will open on December 1, 2021 and close on December 3, 2021

Tega Industries IPO To Open On December 1

Tega Industries' IPO will open on December 1, 2021

Tega Industries' initial public offer (IPO), which is worth Rs 619.23 crore, will open for subscription on December 1, 2021 and close on December 3, 2021.

It is an offer for sale (OFS) of 1,36,69,478 equity shares by the promoters and an existing shareholder.

As a part of the OFS, promoters Madan Mohan Mohanka will offload up to 33.14 lakh equity shares and Manish Mohanka will sell 6.63 lakh equity shares.

In addition to this, Wagner, an affiliate of the US-based private equity firm TA Associates, will offload 96.92 lakh equity shares through the OFS.

The price band has been set at Rs 443-453 a share and at the upper end of the price band, the initial public offering is expected to fetch Rs 619.22 crore.

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

A bidder will be able to apply for the public offer in lots and one lot will consist of 33 company shares. Shares of Tega Industries will be listed on both National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) and the shares are likely to be listed on December 13, 2021.

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