Companies

Tega Industries files IPO papers with SEBI

?OUR BUREAU Kolkata | Updated on August 19, 2021

IPO is an offer of sale for 1,36,69,478 equity shares

Tega Industries Ltd, which is into design and production of consumables for the mineral beneficiation, has filed draft papers with the capital markets regulator SEBI to raise funds via an initial public offering (IPO). The IPO size could be in the range of Rs 700-750 crore, sources said.

The issue will be a complete Offer for Sale (OFS) of 1,36,69,478 equity shares of face value of Rs 10 each by promoter and investor selling shareholders. Promoters and shareholders participating in the OFS include Madan Mohan Mohanka, Manish Mohanka and Wagner Ltd, an affiliate of the US-based private equity firm TA Associates.

The company has reserved up to 50 per cent of the issue for Qualified Institutional Buyers, while non-institutional investors will have upto 15 per cent of the portion reserved. Retail investors will get the remaining 35 per cent.

The equity shares offered are proposed to be listed on the BSE & NSE.

Headquartered in Kolkata, Tega offers a range of abrasion and wear resistant products and services required for mining, mineral processing, screening, grinding, material handling and beneficiation of minerals.

The company has appointed Axis Capital Limited and JM Financial Ltd as investment bankers to the issue and Link Intime India Private Ltd as the registrar to the offer.

Tega Industries is a manufacturer of consumables for the mining industry.

 

Published on August 18, 2021

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