Tega Industries’ listing tomorrow, GMP at ₹300 indicates strong listing

• The listing of Tega Industries is currently the most awaited one after it was subscribed 219 times after three days of the issue.
• Tega Industries provides customised solutions to the mining, bulk material handling and transportation industry.
• Shares of the company are demanding a premium of ₹300 in the grey market, indicating a strong listing on Monday.

Tega Industries — a manufacturer of consumables for the mining industry — will get listed on exchanges tomorrow.

The IPO was in huge demand among investors, seeking an overall subscription of 219 times. The public issue reported a strong demand from non-institutional buyers, retail investors as well as qualified institutions.

Adding to it, the attractive grey market premium charmed many investors to subscribe to the IPO. Currently, shares of the company are demanding a premium of ₹300 in the grey market, indicating a strong listing on Monday, December 13. However, the grey market premium has come down in the last 10 days from ₹410 to ₹300.

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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