Tega Industries Limited IPO (Tega Industries IPO)

Tega Industries, a provider of mining consumables, announced that it has set a price range of Rs 443-453 per share for its Rs 619-crore initial public offering. The company stated that the three-day initial public offering (IPO) will begin on December 1 and end on December 3. The first public offering is purely a sale of 1,36,69,478 equity shares by promoters and an existing shareholder.
Promoter Madan Mohan Mohanka would sell up to 33.14 lakh equity shares and Manish Mohanka will sell 6.63 lakh equity shares as part of the offer for sale.
Wagner, a subsidiary of TA Associates, a US-based private equity fund, would also sell 96.92 lakh equity shares under the offer for sale.
The promoter and promoter group currently own 85.17 percent of the corporation, while Wagner holds 14.54 percent. The initial public offering is projected to raise Rs 619.22 crore at the top of the price range.
ega Industries, situated in Kolkata, provides comprehensive solutions to a wide range of global clients in the mineral beneficiation, mining, and bulk solids handling industries. The public issue's merchant bankers are Axis Capital and JM Financial. The company's shares will be traded on both the BSE and the NSE.