IPO

Tega Industries Ltd IPO : Important Dates and Key Highlights about the IPO

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.

IPO DETAILS

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

IMPORTANT DATES

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 :

	Shares	Amount
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.

COMPANY FINANCIALS

Particulars (in Million Rs.)	2020-21	2019-20	2018-19
ASSETS	10183	8873	7902
REVENUE	8566	6956	6431
NET PROFIT	1364	655	327

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.

PROS

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.

CONS

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.