Tega Industries IPO was subscribed 13.87 times on 2nd day of issueTega Industries Limited's preliminary public offer (IPO) was subscribed 13.87 times on the 2nd day of its problem on Thursday.
It had actually opened on December 1, 2021.
A producer of consumables for the mining industry, Tega Industries' IPO got bids for 13,26,78,876 shares versus 95,68,636 shares on offer, according to information available with the exchanges.The classification for non-institutional financiers was subscribed 20.48 times, those for retail private investors (RIIs) 17.04 times and certified institutional purchasers (QIBs) 3.35 times.The initial public deal is of up to 13,669,478 equity shares and remains in a cost series of Rs 443-453 per share.The preliminary public offer of Tega Industries was completely subscribed within one hour of opening on Wednesday (December 1).
Previously on November 30, Tega Industries had said it has garnered Rs 186 crore from anchor investors.Kolkata-based Tega Industries provides thorough solutions in the mineral beneficiation, mining and bulk solids managing industry through its broad item portfolio.Axis Capital and JM Financial are the supervisors to the offer.
Its shares will be noted both on the BSE and NSE.