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Tega Industries IPO opens today and GMP at ₹ 310

  • Tega Industries, a manufacturer of consumables for the mining industry, opens its IPO today and ends on December 3rd.
  • Retail investors can bid for at least 33 shares with an investment of 14,949 yen per share.
  • The company’s shares traded on the gray market at a premium of 310 yen per share.

Tega Industries, a manufacturer of consumables for the mining industry, opened its IPO today and will complete on December 3rd. The company aims to publicly list over ₹ 600 billion of shares from promoters and existing shareholders.

Among other things, Wagner, a subsidiary of the US private equity firm TA Associates, will sell 96.92 lakh shares as part of the IPO.

The company’s shares traded on the gray market at a premium of 310 yen per share.

Retail investors can bid for at least 33 shares with an investment of 14,949 yen per share.

Here are some important details about the IPO:

Problem details
Price band ₹ 443 to ₹ 453
Opening date of the IPO December 1
Closing date of the IPO 3rd of December
Grant date December 8th
Initiation of Refunds 9th of December
Crediting of shares to Demat account 10th of December
Date of listing 13th December
Minimum quantity 33 shares

Tega Industries provides bespoke solutions for the mining, bulk solids and transportation industries, such as the manufacture of wear-resistant lining components required for grinding, sizing and others. The product portfolio includes more than 55 products for mineral processing and material handling. The company has six production sites, including three in India – Dahej in Gujarat, Samali and Kalyani in West Bengal, as well as three locations in the main mining centers of Chile, South Africa and Australia.

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