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Tega Industries mops up Rs 185.76 crore from anchor investors ahead of IPO

Tega Industries IPO | Key participants in the anchor book were SBI Mutual Fund, ICICI Prudential, HDFC Trustee Company, Axis Mutual Fund, Aditya Birla Sun Life Trustee, Kotak Mutual Fund, and Tata Mutual Fund.

November 30, 2021 / 09:07 PM IST
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Tega Industries, the leading polymer-based mill liners producer, on November 30, mobilised Rs 185.76 crore from 25 anchor investors ahead of its initial public offering (IPO) for other investors.

The issue will open for subscription on December 1 and will close on December 3. The price band for the offer has been fixed at Rs 443-453 per equity share.

Tega Industries, in consultation with book running lead managers, has finalised allocation of 41,00,842 equity shares to anchor investors at upper price band of Rs 453 per equity share, as the per the company's BSE filing.

Key participants in the anchor book were SBI Mutual Fund, ICICI Prudential, HDFC Trustee Company, Axis Mutual Fund, Aditya Birla Sun Life Trustee, Kotak Mutual Fund, and Tata Mutual Fund.

Also readTega Industries IPO Opens Tomorrow: 10 key things to know before you subscribe

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Among other investors, Goldman Sachs, BNP Paribas Arbitrage, Kuber India Fund, Elara India Opportunities Fund, and Ashoka India Equity Investment Trust Plc also invested in the company.

Tega Industries aims to garner Rs 619.22 crore through its public issue, at the upper price band. It must be noted that this IPO is entirely an offer for sale of 1,36,69,478 equity shares by selling shareholders - promoters (Madan Mohan Mohanka and Manish Mohanka), and investor Wagner.

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Tega Industries is a leading manufacturer and distributor of specialised 'critical to operate' and recurring consumable products for the global mineral beneficiation, mining and bulk solids handling industry, having six manufacturing sites. It has product portfolio of more than 55 mineral processing and material handling products

The book running lead managers to the issue are Axis Capital and JM Financial.

Also readAnand Rathi Wealth IPO opens on December 2, price band set at Rs 530-550 per share
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first published: Nov 30, 2021 09:04 pm
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