December is also going to be a busy month in terms of IPOs. This month also a lot of IPOs will come in the market and you will get many opportunities to try your luck. The IPO of Tega Industries has opened for investors today. Let us understand about this company, what it does and whether you should invest your money in this IPO or not.
Tega Industries IPO, Important Details
- Through the offer, Tega Industries aims to raise Rs Rs 619.22 crore.
- The IPO is purely an offer for sale (OFS) of 1,36,69,478 equity shares by promoters and an existing shareholder.
- Subscription opens today, December 1, 2021, at a price band of Rs 443-453 per share. The offer will be available till Friday, December 3, 2021.
- Investors who wish to subscribe to Tega Industries IPO can bid in a lot of 33 equity shares and multiples thereafter.
- At the upper price band, they will be shelling out Rs 14,949 to get a single lot of Tega Industries.
- The shares will be listed on both BSE as well as the National Stock Exchange (NSE).
- The cut-off time for UPI mandate confirmation is Monday, December 6, 2021, upto 12:00 pm.
- The share allotment is likely to take place on December 8, 2021, and the shares are expected to be listed on December 13, 2021.
What Tega Industries do?
- Almost 85% of Tega Industries revenue comes from outside India. The company intends to gain market share and increase penetration globally in North America, South America, Australia and South Africa.
- Tega Industries is a manufacturer and distributor of specialized ‘critical to operate’ and recurring consumable products for the global mineral beneficiation, mining and bulk solids handling industry.
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Pallav Jain is co-founder of Ground Report and an independent journalist and visual storyteller based in Madhya Pradesh. He did his PG Diploma in Radio and TV journalism from IIMC 2015-16.
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