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Tega Industries’ IPO to open next week along with Star Health and Allied Insurance

Tega Industries’ IPO to open next week along with Star Health and Allied Insurance
  • Tega Industries, manufacturer of consumables for the mining industry, will open its IPO next week on from December 1 to December 3.
  • Retail investors can bid for a minimum of 33 shares with an investment of ₹14,949 per share.
  • The IPO is looking to raise over ₹600 crore through the public listing.
Next week will see the initial public offering (IPO) opening of two companies -- Tega Industries and Rakesh Jhunjhunwala-backed Star Health and Allied Insurance.

Tega Industries, manufacturer of consumables for the mining industry, will open its IPO on December 1 and conclude on December 3. The company is looking to raise over ₹600 crore through public listing of shares, which is entirely an offer of sale of 1.3 crore equity shares by promoters and existing shareholders.
Offer for sale

Shares

Madan Mohan Mohanka

33.14 lakh

Manish Mohanka

6.63 lakh

Wagner, an affiliate of the US-based private equity firm TA Associates

96.92 lakh


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:
Issue details


Price band

₹443 to ₹453

IPO open date

December 1

IPO close date

December 3

Allotment date

December 8

Initiation of refunds

December 9

Credit of shares to demat account

December 10

IPO listing date

December 13

Minimum lot

33 shares


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.

Tega Industries’ profitability has grown more than four times in the last three financial years.
Particulars

FY19

FY20

FY21

Revenue

₹805 crore

₹684 crore

₹633 crore

Profit

₹32 crore

₹65 crore

₹136 crore


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