Latest News | Tega Industries IPO Subscribed 13.87 Times on Day 2 of Offer

New Delhi, Dec 2 (PTI) The initial public offer of Tega Industries Limited, manufacturer of consumables for the mining industry, received 13.87 times subscription on day two of the share-sale on Thursday.

The Rs 619.22-crore IPO received bids for 13,26,78,876 shares against 95,68,636 shares on offer, according to data available with the exchanges.

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The category for non-institutional investors was subscribed 20.48 times, those for retail individual investors (RIIs) 17.04 times and qualified institutional buyers (QIBs) 3.35 times.

The initial public offer is of up to 13,669,478 equity shares and is in a price range of Rs 443-453 per share.

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The initial public offer of Tega Industries was fully subscribed within one hour of opening on Wednesday.

Tega Industries on Tuesday said it has garnered Rs 186 crore from anchor investors.

Kolkata-based Tega Industries offers comprehensive solutions to marquee global clients in the mineral beneficiation, mining and bulk solids handling industry through its wide product portfolio.

Axis Capital and JM Financial are the managers to the offer.

Shares of the company will be listed on both BSE and NSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)