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<ul><li>Shares of <keyword id="547041" type="General" weightage="20" keywordseo="tega-industries" source="Orion">Tega Industries</keyword> list at ₹753 while the shares were allotted at ₹453 per share.</li><li>The IPO received huge demand from investors as it was subscribed 219 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹4,991 crore.</li></ul>Shares of Tega Industries, a manufacturer of consumables for the mining industry, made a bumper listing on the National Stock Exchange (NSE) and BSE at 66% premium over the issue price of ₹453 apiece. Post-listing, the market capitalisation of the company stood at ₹4991 crore, according to BSE data. The shares of Tega Industries were trading at ₹736, higher by 62% at 10.03 a.m., on December 13. The listing gain of ₹300 was exactly the same as the premium expected by the grey market led by huge oversubscription by investors. The IPO was open between December 1 and December 3 ⁠and was oversubscribed 219 times by investors. 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. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tega-industries-vedanta-spicejet-and-other-top-stocks-to-watch-out-for-on-december-13/slidelist/88247469.cms">Tega Industries, Vedanta, SpiceJet and other top stocks to watch out for on December 13</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/medplus-healthcares-ipo-opens-today-checkout-all-the-dates-you-need-to-know/articleshow/88230631.cms">Medplus Healthcare’s IPO opens today — checkout all the dates you need to know</a>

Tega Industries meets its GMP of ₹300 and lists at 66% premium

<ul><li>The IPO of Tega Industries was subscribed 4.6 times on the first day of issue on December 1.</li><li>Tega is looking to raise ₹600 crore from this IPO, which is entirely an offer for sale of 1.3 crore equity shares.</li><li>Retail investors can bid for a minimum of 33 shares with an investment of ₹14,949 per share.</li></ul>The initial public offering (IPO) of Tega Industries, a manufacturer of consumables for the mining industry, was subscribed 4.6 times on the first day of issue on December 1. The public issue reported a strong demand from non-institutional buyers as well as retail investors, who oversubscribed the shares. The company received quite an underwhelming response from qualified institutional buyers (QIB) on day 1. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investor category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription (times) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.07 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-Institutional Buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.17 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.51 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.67 </td></tr></tbody></table>Source: BSE Tega is looking to raise ₹600 crore from this public issue, which is entirely an offer for sale of 1.3 crore equity shares by promoters and existing shareholders. The company’s grey market premium (GMP) was at ₹370 apiece in the grey marker on December 1, representing a hike of ₹60 from a day ago. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stakeholders </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offer for Sale </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Madan Mohan Mohanka </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33.14 lakh equity shares </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manish Mohanka </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.63 Lakh equity shares </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> TA Associates </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">96.92 lakh equity shares </td></tr></tbody></table>The company’s shares are likely to list on the stock market on December 13, 2021. The price band for the public issue has been set at ₹443 to ₹453. Retail investors can bid for a minimum of 33 shares with an investment of ₹14,949 per share. 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. SEE ALSO <a href="https://www.businessinsider.in/india/news/international-flights-from-india-will-not-be-resuming-on-december-15-due-on-concerns-of-new-covid-19-variant/articleshow/88029203.cms" data-type="tilCustomLink">International flights from India will not be resuming on December 15 due to concerns of new COVID-19 variant</a> <a href="https://www.businessinsider.in/personal-finance/news/here-is-how-you-can-link-your-pan-before-applying-for-the-lic-ipo/articleshow/88032810.cms" data-type="tilCustomLink">Do you own an LIC policy? Here is how you can link your PAN before applying for the LIC IPO</a> <a href="https://www.businessinsider.in/india/news/serum-institute-seeks-drug-regulators-approval-to-start-booster-doses-of-covishield/articleshow/88034074.cms" data-type="tilCustomLink">Serum Institute seeks drug regulator's approval to start booster doses of Covishield</a>

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Tega Industries meets its GMP of ₹300 and lists at 66% premium

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Tega Industries’ IPO oversubscribed on Day 1 — GMP at ₹370

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