Tega Industries IPO | Check share allotment & listing dates, latest grey market premium

Asia's Tech News Daily

#IPO - News, #TEGA industries, BSE website, IPO registrar's website

Tega Industries IPO share allotment

After garnering sixth largest subscription, investors are anxious to know their allotment status for Tega Industries IPO which is likely to get finalised next week. The offer was opened for bidding during December 1-3, 2021.

The public issue has seen a massive subscription of 219.04 times with support from all kind of investors, getting in bids for 209.58 crore equity shares against offer size of 95.68 lakh equity shares. The reserved portion of qualified institutional buyers saw the highest ever subscription of 215.45 times at least in a decade.

Non-institutional investors had put in bids 666.19 times the portion set aside for them, and retail investors bought shares 29.44 times their reserved portion.

The company mopped up Rs 619 crore through public issue that was entirely an offer for sale by selling shareholders. Hence the company will not get any money from the offer. The price band was Rs 443-453 per equity share.

How To Check Share Allotment Status?

Also read – Primary market buzzing with activity as 4 IPOs hit the Street next week.

After the finalisation of basis of allotment, the share allotment can be checked either on the website of BSE or IPO registrar by December 8, 2021.

On the BSE website, one needs to follow these three easy steps:

a) Select issue type (Equity), and issue name (Tega Industries Limited),

b) Enter Application Number and PAN Number

c) And finally check box (I’m not a robot) and click on search button.

Alternatively, the allotment can also be checked on IPO registrar’s website

a) Select Company Name (Tega Industries Limited – IPO)

b) Select and accordingly enter either PAN Number, or Application Number, or DP/Client ID, or Account Number / IFSC

c) And finally enter captcha and click on submit button

Also read – MapmyIndia IPO opens on December 9, issue closes December 13

After the end of share allotment process, the company will refund money to unsuccessful investors by December 9, and will credit shares in the demat accounts of eligible investors by December 10.

The company will make its debut with shares on the BSE and NSE on December 13.

Tega Industries shares are available at Rs 863-903 per share in the grey market, registering a massive 90.5-99.3 percent premium (Rs 410-450) over expected final issue price of Rs 453 per share, as per IPO Watch and IPO Central.

Ujjawal Kumar, Research Analyst at Green Portfolio highlighted five key reasons that justified the grey market premium. “The company makes specialized critical products with high barriers to replacement or substitution. Tega is insulated from mining capex cycles as its products cater to after-market spends, providing recurring revenues. The company has long standing relationship with marquee global customers supported by global manufacturing & sales capabilities. The company has consistently improved its ROCE (return on capital employed) and margin profile over the last couple of years.”

Also read – Rakesh Jhunjhunwala-backed Metro Brands IPO opens on December 10, closes on December 14

Additionally the IPO is not expensive given the quality of the business, he said.

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. Globally, it is the second largest producers of polymer-based mill liners, on the basis of revenues as of June 30, 2021.

Also read – Shriram Properties IPO price band set at Rs 113-118 per share

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.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Google fined by the Russian government for failure to delete banned content

Photo by: Arkan Perdana/Unsplash Google has been slapped with $52,526 or 4 million in Russian ruble in fine due to its failure to take down banned content in Russia. It ... Read more »

Amazon ditches plan to stop accepting Visa credit cards

Photo by: Christian Wiediger/Unsplash Amazon previously announced that it would stop accepting Visa credit cards in the United Kingdom, and now this plan has changed. It was reported that the ... Read more »

Lotte Group acquires Ministop Korea after beating Shinsegae in the biddings

Photo by: LERK/Wikimedia Commons (CC-BY-SA 4.0) Lotte Group is set to acquire Ministop Korea after it has become the preferred bidder, beating Shinsegae in the process. The South Korean multinational ... Read more »

McDonald's UK fans protest Chicken Legend's continued absence from menu

The Chicken Legend’s followers were assured that the removal was only temporary and that McDonald’s would bring it back in all three flavors: BBQ, cool mayo, and hot and spicy ... Read more »

B1.4bn approved for programmes to reduce cost of living

People queue for noodle soup at a shop in Silom that displays increased prices. (Photo: Somchai Poomlard) The cabinet on Tuesday approved the allocation of 1.48 billion baht from the ... Read more »

Some Starbucks sites cut hours, limit seating as Burger King reports weaker sales due to Omicron

Starbucks and other restaurants have learned how to operate through the pandemic and have invested in the infrastructure to revert to delivery, drive-through, or takeout as needed. Starbucks Corp. and ... Read more »

Shimao's founder offers to sell two floors at The Center in Hong Kong as developer digs into his own pockets to pare company's debt

Shimao Group’s founder is putting two floors of the world’s priciest office tower on the market for sale, as even one of China’s more restrained real estate developers digs into ... Read more »

Credit Suisse's Antonio Horta Osario resigns as chairman after violating COVID-19 rules

Photo by: Credit Suisse Website Credit Suisse’s chairman, Antonio Horta-Osorio, has tendered his resignation this week after getting involved in a controversy. The executive was said to have violated COVID-19 ... Read more »

TikTok posts feedback form under ‘localization' law, says Russian regulator

Under the law, overseas Internet companies with a daily audience exceeding 500,000 users must open their authorized representative offices in Russia Read more »

Abu Dhabi-based start-up aims to launch world's first plastics trading exchange as global companies call on governments to act

A start-up based in Abu Dhabi plans to build a global platform for trading used plastics, as more than 70 leading businesses and financial institutions call for more international government ... Read more »

Starbucks UK launches vegan tuna sandwich

Photo by: Starbucks UK Press Release Starbucks UK has unveiled a new plant-based sandwich, and it is simply called the Tu'Nah Sandwich. The new vegan sandwich option has been added ... Read more »

Chip crisis pushes European car sales to new low

Car sales in Europe fell to their lowest point since statistics began in 1990 PARIS – EU car sales fell to a new low last year as the auto sector ... Read more »

Asia shares mostly lower as investors mull likely rate hike

The Associated PressA woman wearing a face mask walks past a bank’s electronic board showing the Hong Kong share index in Hong Kong, Tuesday, Jan. 18, 2022. Asian shares were ... Read more »

Louis Vuitton closing its outlets in duty-free shops in S. Korea

Photo by: Llibert Losada/Unsplash Louis Vuitton is pulling out its stores in downtown duty-free shops in South Korea. It was revealed that the French luxury brand is closing its shops ... Read more »

Yandex, KT Corporation to launch robotic couriers in Seoul

South Korea is the first East Asian market where Yandex autonomous delivery robots will start operating Read more »

Budget 2022 | General government deficit to ease to 9.3% of GDP in FY23

Representative image The COVID-19 pandemic took a huge toll on government finances in FY2021. While a modest correction was attempted in FY2022, ICRA expects the Government of India’s (GoI’s) fiscal ... Read more »

Paytm's first investor expresses confidence in startup even as others feel party's over for the super app

Two months after Paytm sank on its first trading day following India’s biggest initial public offering, co-head of an early investor remains confident in the digital payments startup expressing zero ... Read more »

Toyota needs to build 1 million cars in March to reach annual target

Toyota Motor Corp will build 700,000 vehicles globally in February, up 10% on the year, but will still need to make a million more in March in order to reach ... Read more »

Priyanka Gandhi Vadra slams Yogi govt, urges youth to stick to agenda of employment, education in polls

Priyanka Gandhi Vadra Congress leader Priyanka Gandhi Vadra on Tuesday attacked the Yogi Adityanath government in Uttar Pradesh over the issues of employment and education, and urged the youth to ... Read more »

Asahi Super Dry is changing its beer recipe for the first time in over three decades

Photo by: Bob Jansen/Unsplash Asahi Super Dry Beer is Japan’s no. 1 and best-selling beer, and now the brewery is reformulating its recipe for the first time in 35 years. ... Read more »

Indonesia removes ban on foreign arrivals for recovery boost

FILE PHOTO: Travellers wearing protective suits are seen at the Soekarno Hatta International airport, as the country bans the arrival of travellers who have been in eight African countries to ... Read more »

Bank of Japan lifts inflation forecast, no policy change

Japan’s central bank has revised up its inflation forecast TOKYO – Japan's central bank revised its inflation forecast on Tuesday and adjusted its view of price risks, while leaving its ... Read more »

Tesla in India | States inviting Tesla to set up EV manufacturing plants

A number of Indian states have rolled out the red carpet for Elon Musk’s American electric vehicle company, Tesla, after he told a netizen that Tesla is facing challenges in ... Read more »

Buy GNA Axles: target of Rs 720: Sharekhan

Sharekhan’s research report on GNA Axles Q3FY2022 results were below expectations, marred by weak class-8 truck sales and muted growth in domestic tractors. While remaining positive on the company’s growth ... Read more »

Ducati Streetfighter V4 Review: Firing on all cylinders

There aren’t too many petrol cars in India that produce 200 hp. One of the cars that does is the Mahindra XUV700, which weighs two tonnes and still accelerates at a ... Read more »

Toyota to produce 700,000 vehicles in February

Toyota Motor Corp will build 700,000 cars globally in February, up 10% on the year, but leaving a million vehicles to be made in March if the world’s biggest carmaker ... Read more »

Renting in the free sector is rising again

“The increase is not surprising,” says Jasper de Groot, director of Pararius. “The demand is very high, and the supply is low. Then the prices rise.” The demand for rental ... Read more »

Pandemic severely dented consumer confidence in India: RBI Bulletin

Representative image. The pandemic severely dented consumer confidence in India, with sentiments of households across strata influenced by the spread of infections and fatalities, according to the January Reserve Bank ... Read more »

Hero MotoCorp stake in Ather energy to go up by 1-3% post its Rs 420 crore investment

Representative Image Hero MotoCorp’s stake in electric two-wheeler maker, Ather Energy is likely to go up by 1-3 % as a result of the company’s further investment in the EV ... Read more »

Renting in the free sector is rapidly becoming more expensive, according to Pararius

Photo: ANP In at least eleven years it has not been as expensive to rent a home in the free sector as it has been in recent months. This is ... Read more »

Nesco promoter buys a bungalow in Mumbai for Rs 93 crore

Representative image The promoter of diversified firm Nesco, who is also a director of Chandler & Price (India) Pvt Ltd, has bought a bungalow for Rs 93 crore in the ... Read more »

Is Ola Electric halting production of the S1 scooter?

For those who simply want to purchase the lighter and cheaper S1 without the option of upgrading its features, you’re going to have to wait a lot longer till the ... Read more »

China must put even more electric cars on the roads at a faster rate to meet nation's 2060 carbon neutral target, Greenpeace says

Manufacturers and policymakers in China must work together to put even more zero-emission vehicles on the roads of the world’s largest vehicle market to meet the nation’s carbon neutrality target ... Read more »

Margins will come under control in the next 2-3 quarters: HCL Tech CEO C Vijayakumar

Read more »

20% fall in January bookings due to COVID-19 forces railways to cancel several train services

[Representative image: AP] Indian Railways has begun to cancel several train operations due to low occupancy, with a 20 percent fall in passenger bookings in January and rising cases of ... Read more »

G.O.A.T Brand Labs acquires The Label Life, a westernwear brand

G.O.A.T Brand Labs has taken a majority stake in The Label Life, a women’s fashion and lifestyle brand.  Founded by Preeta Sukhtankar, along with Yashika Punjabee and Sonam Shah, six ... Read more »

RBI imposes monetary penalty on The Co-operative Bank of Rajkot

The Reserve Bank of India (RBI) on January 17 imposed a monetary penalty of Rs 4 lakh on The Co-operative Bank of Rajkot, Gujarat for violation of certain norms. This action ... Read more »

Maruti Suzuki share price falls after global brokerage retains 'sell', expects 25% downside

Maruti Suzuki India share price fell over 2 percent in the morning session on January 18 after CLSA retained sell call on the stock. The scrip was trading at Rs ... Read more »

IPO greenlight for Delhivery, Radiant Cash Management, and Veranda Learning

Three more firms — Delhivery, Radiant Cash Management Services, and Veranda Learning Solutions — have got approval from the Securities and Exchange Board of India (SEBI) to launch their initial ... Read more »

Race to cut carbon emissions splits U.S. states on nuclear

The Associated PressChris Levesque, president and CEO of TerraPower, a company developing and building small nuclear reactors, poses for a photo in the company’s lobby, Thursday, Jan. 13, 2022, in ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic