Tega Industries Ltd is leader for manufacturing consumable and critical products used in mining and mineral beneficiation. It has 6 manufacturing sites out of which 3 are located in India. The industries in India are Gujarat and West Bengal. The off-shore sites are in Chiel, Australia and Africa. Its business is run across 70 countries. Major revenues are generated from the off-shore business activities. The company’s operations are to spread further across America and Africa.
Tega Industries Ltd IPO is set to launch on 1st Dec., 2021. The subscription timeline extends till 3rd Dec, 2021. The size for the IPO is 619.23 Crore Rs.. No Shares are issued through Fresh Issue. Shares issued through Offer for Sale are worth Rs. 619.23 Crore. The lot size is 33 shares and the price range is 443 Rs. – 453 Rs./ share. The company is going to get listed at both the exchanges NSE and BSE. The face value per share is Rs.10 and this is a book built issue. The registrar for the company is Link Intime India Private Limited.
TABULAR REPRESENTATION OF IPO DETAILS
|IPO OPENING DATE||1st Dec, 2021|
|CLOSING DATE FOR IPO||3rd Dec, 2021|
|ISSUE TYPE||Book Built Issue|
|Face Value per share||10 Rs. per share|
|IPO price band||443 Rs. – 453 Rs.|
|LOT SIZE||33 shares|
|MINIMUM ORDER QUANTITY||33 shares|
|ISSUE SIZE||619.23 Crore Rs.|
|OFFER FOR SALE||619.23 Crore Rs.|
|FRESH ISSUE||No Shares Issued|
|LISTING AT||NSE, BSE|
|LISTING DATE||13th Dec, 2021|
|IPO OPENING DATE||1sr Dec, 2021|
|CLOSING DATE FOR IPO||3rd Dec, 2021|
|IPO ALLOTMENT DATE||8th Dec, 2021|
|REFUNDS||9th Dec, 2021|
|DEMAT A/C CREDITED ON||10th Dec, 2021|
|IPO LISTING DATE||13th Dec, 2021|
Tega Industries Ltd IPO begins for subscription from 1st Dec, 2021. The IPO subscription would continue till 3rd Dec, 2021. The allotment status for the shareholders who applied would come on 8th Dec, 2021. The refunds for the ones who did not get allotment would be initiated on 9th Dec, 2021. The DEMAT accounts of shareholders would be credited on 10th Dec, 2021. The listing of the company would be accompanied on 13th Dec, 2021.
Lead Managers And Promoters
The lead managers are :
- JM Financial Consultants Private Limited
- Axis Capital Limited
The minimum lot size for the company is decided at 33 shares. This holding accounts to 14949 Rs.. The maximum lot size is decided at 429 shares. This amounts to Rs.194337. Hence the company’s final holdings would be set as :
|Minimum||33 shares||14949 Rs|
|Maximum||429 shares||194337 Rs|
OBJECTIVES FOR THE IPO
- The funds can be utilized for General corporate purposes.
- The company wants to achieve the listing benefits.
|Particulars (in Million Rs.)||2020-21||2019-20||2018-19|
The revenues of the company are excellent. An increasing stream is visible in revenues. Also the assets of the company are increasing at a stable rate. The company has managed to be profitable even in the times of COVID. The figures display that it has a strong revenue and sales. This means that the company’s networking is running at a great potential. The profits generated are reinvested and used for expansion plans for the company. Overall the financials of the company are in the green zone and hence the company is sound and liquidate. One can apply for the IPO given its financial and business position currently.
- The presence of the company is there in more than 70 Countries.
- Ots sales offices are at 12 offshore locations and 14 domestic locations.
- It has 3 manufacturing facilities in India and 3 Manufacturing facilities off-shore.
- The financials of the company are sound.
- It wants to expand its business across America and Africa.
- It is a leader in manufacturing the mineral beneficiation and mining consumable products.
- The major revenue is from outside India hence the management may face obstructions while running business in the current COVID situation. Also given its manufacturing facility is in Africa, Omicron Virus can cause major stoppage of work in current times.
Tega Industries Ltd IPO APPLICATION PROCESS WITH ZERODHA
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform.
- Clicking the IPO link present in the Portfolio section.
- Click the Tega Industries Ltd IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.