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    HomeNewsBusinessIPOTega Industries sees bumper listing, debuts with 67.7% premium

    Tega Industries sees bumper listing, debuts with 67.7% premium

    Tega Industries | The listing was on expected lines given the strong IPO subscription, better financial growth, return ratios and high repeat business. A positive market sentiment also supported the listing

    Moneycontrol News
    December 13, 2021 / 10:00 IST
       
       
      26 Aug, 2025 12:21
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      Tega Industries had a bumper debut on the bourses on December 13 with a massive 67.77 percent premium on listing. The opening price on the BSE was Rs 753 against an issue price of Rs 453 per share, while it was Rs 760 on the NSE.The listing was on expected lines, given the strong IPO subscription, better financial growth, return ratios and high repeat business. A positive market sentiment also supported the listing.The Rs 619-crore public issue of the second largest producer of polymer-based mill liners was subscribed 219.04 times during December 1-3 as qualified institutional buyers had put in bids 215.45 times the portion set aside for them. The reserved portion of non-institutional investors was subscribed 666.19 times and that of retail investors saw 29.44 times subscription.The public issue of the company was entirely an offer-for-sale by the selling shareholders.

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      All analysts had given ‘subscribe’ rating to the public issue of company, citing business growth prospects, strong fundamentals, niche operating segment and lower competition.Tega Industries manufactures and distributes specialised critical-to-operate consumables for the global mineral beneficiation, mining and bulk solid handling industry. The company’s focussed end-customers are minerals processing sites involved in gold and copper ore beneficiation.Click Here To Know All IPO Related News“The business growth prospect appears optimistic given the Tega Industries’ presence in consumable products required for the mining of gold and copper whose ore is depleting at higher pace and have strong demand derivers due to higher usages in electronics and electric vehicles,” said Choice Broking.“Stable fundamentals, long-term visibility of revenue, niche operating segment and lower competition are key business positives, which drive our optimism. Considering all these parameters, we assign ‘subscribe’ rating to the issue,” the brokerage added.Marwadi Financial Services had also assigned ‘subscribe’ rating to this IPO as the company has high barriers to replacement or substitution. “Also, it is available at reasonable valuation as compared to its peer,” it said. Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
      Moneycontrol News
      first published: Dec 13, 2021 10:00 am

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