{"id":1012,"date":"2021-11-30T11:59:06","date_gmt":"2021-11-30T11:59:06","guid":{"rendered":"https:\/\/www.invest19.com\/blog\/?p=1012"},"modified":"2021-12-02T13:27:12","modified_gmt":"2021-12-02T13:27:12","slug":"tega-industries-to-raise-rs-619-23-crores","status":"publish","type":"post","link":"https:\/\/www.invest19.com\/blog\/tega-industries-to-raise-rs-619-23-crores\/","title":{"rendered":"Tega Industries to raise Rs 619.23 crores"},"content":{"rendered":"
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\nTega\nindustries is one of the leading names in mining industries\nincorporated in the year 1978. The company is\na leading manufacturer and distributor of specialized \u2018critical to\noperating\u2019 and recurring consumable products for the global mineral\nbeneficiation, mining, and bulk solids handling industry, based on\nsales for the calendar year 2020. The Firm, globally, is the\nsecond-largest producer of polymer-based mill liners, based on\nrevenues for the calendar year 2020.\nThe product portfolio of the company comprises more than 55 mineral\nprocessing and material handling products. At present, the firm has\nsix manufacturing sites, including three in India, at Dahej in\nGujarat, and Samali and Kalyani in West Bengal, and three sites in\nmajor mining hubs of Chile, South Africa, and Australia.<\/p>\n\n\n\n

\nWith\na huge mark all over globally, the firm is all set to mark its\npresence in the Indian stock market by raising Rs619.23 crores\nthrough an initial public offering, setting a price band at\nRs443-Rs453. The window for subscription will open from 1st December\n2021, and the last date to apply for the Tega Industries IPO is 3rd\nDecember 2021. Allotment for the same will be done on 8th December,\nand listing on the exchange will take place on 13th December 2021.\nRetail investors can bid for a minimum of 1 lot comprising of 33\nshares, with the value of Rs 14,949, and the maximum investment\nallowed for the retail investors are Rs194,337 accumulating to 13 lot\nof IPO aggregating to a total of 429 shares. Grey’s market premium\nfor the IPO has accelerated to Rs310, as the IPO approaches its\nopening date.<\/p>\n\n\n\n

\nThe\nIPO is an entire offer for sale of 1,36,69,478 equity shares by\npromoters and an existing shareholder. As a part of this offer\nfor sale IPO, promoters Madan Mohan Mohanka and Manish Mohanka will\nsell 33.14 lakh equity shares and 6.63 lakh equity shares,\nrespectively. In addition to this, US-based private equity firm TA\nAssociates will shed 96.92 lakh equity shares in this IPO. Book\nrunning lead managers for the IPO are Axis\nCapital and JM Financial, and registrar being the Link Intime India\nprivate ltd.<\/p>\n\n\n\n

On\nthe financial front Tega, industries have been constantly showing the\nrise in their net profit from year on year.\nNet profit went up by 108% in FY2021 to Rs1346.05 million from Rs\n655.04 million earned in FY2020. To add to its financial positivity,\nthe cumulative annual growth rate for the firm’s operating income was\nrecorded at 10.04% for the past three financial years starting from\nFY2019 till FY2021.<\/p>\n\n\n\n

Apart\nfrom being financially sound, the firm also has other strengths like\nit is One\nof the world’s largest producers of polymer-based mill liners. The\nproduct line of the firm caters to after-market spends providing\nrecurring revenues.<\/p>\n\n\n\n

All\nthese above-stated reasons make Tega Industries IPO favorable.\nHowever, investors must do their homework before investing, as all\nthe investments in the stock market are subject to market risk, that\ncan’t be avoided.<\/p>\n

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Tega industries is one of the leading names in mining industries incorporated in the year 1978. The company is a leading manufacturer and distributor of […] Read More<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":1013,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,10],"tags":[],"class_list":["post-1012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","category-featured"],"_links":{"self":[{"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/posts\/1012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/comments?post=1012"}],"version-history":[{"count":1,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/posts\/1012\/revisions"}],"predecessor-version":[{"id":1014,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/posts\/1012\/revisions\/1014"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/media\/1013"}],"wp:attachment":[{"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/media?parent=1012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/categories?post=1012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/tags?post=1012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}