Ajcon Global IPO report on Tega Industries
Tega Industries Limited (“Tega”) was incorporated on May 15, 1976. Tega commenced their operations in 1978 in India, with a foreign collaboration with Skega AB, Sweden. In 2011, the Company received funding from Wagner Ltd., an entity affiliated with TA Associates, a global private equity firm. The company is a leading manufacturer and distributor of specialized ‘critical to operate’ and recurring consumable products for the global mineral beneficiation, mining and bulk solids handling industry, on the basis of sales as of June 30, 2021. Globally, the Company is the 2nd largest producers of polymer‐based mill liners, on the basis of revenues as of June 30, 2021. Tega’s product portfolio comprises more than 55 mineral processing and material handling products which covers a wide range of solutions in the mining equipment, aggregates equipment and the mineral consumables industry. Tega offers comprehensive solutions to marquee global clients in the mineral beneficiation, mining and bulk solids handling industry, through their wide product portfolio of specialized abrasion and wear‐resistant rubber, polyurethane, steel and ceramic based lining components, used by their customers across different stages of mining and mineral processing, screening, grinding and material handling, including after‐market spends on wear, spare parts, grinding media and power, which are regular operating expenses for their customers.
Valuation and Outlook
The company was incorporated as “Tega India Limited” on May 15, 1976. The Promoters of the company are, Madan Mohan Mohanka, Manju Mohanka, Manish Mohanka, Mehul Mohanka and NFSPL. Currently, the promoters in aggregate hold 55,161,483 Equity Shares, constituting 83.21% of the pre‐Offer issued, subscribed and paid‐up Equity Share capital of the company.
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