Tega Industries’ ₹600 crore IPO opens today; GMP at ₹310

• Tega Industries, manufacturer of consumables for the mining industry, will open its IPO today and will close on December 3.
• Retail investors can bid for a minimum of 33 shares with an investment of ₹14,949 per share.
• Shares of the company were trading at a premium of ₹310 per share in the grey market.

Tega Industries, a manufacturer of consumables for the mining industry has opened its IPO today and will conclude on December 3. The company is looking to raise over ₹600 crore through public listing of shares, which is entirely an offer for sale of 1.3 crore equity shares by promoters and existing shareholders.

Among other promoters, Wagner, an affiliate of the US-based private equity firm TA Associates, will be selling 96.92 lakh shares in the IPO.

The company’s shares were trading at a premium of ₹310 per share in the grey market.

Retail investors can bid for a minimum of 33 shares with an investment of ₹14,949 per share.

Here are some of the important details of the IPO:

Tega Industries provides customised solutions to the mining, bulk material handling and transportation industry like manufacturing of wear resistant lining components required for grinding, sizing and others.

It has a product portfolio of more than 55 mineral processing and material handling products. The company has six manufacturing sites, including three in India -- Dahej in Gujarat, Samali and Kalyani in West Bengal, and three sites in major mining hubs of Chile, South Africa and Australia.

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