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April 24, 2024,4:52:16 PM

Tega Industries raises Rs 185.76 crore from anchor investors ahead of its first public offering

By Admin
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Tega Industries' Initial Public Offering (IPO) | SBI Mutual Fund, ICICI Prudential, HDFC Trustee Company, Axis Mutual Fund, Aditya Birla Sun Life Trustee, Kotak Mutual Fund, and Tata Mutual Fund were among the key players in the anchor book.


Tega Industries, the world's largest supplier of polymer-based mill liners, raised Rs 185.76 crore from 25 anchor investors on November 30 ahead of its initial public offering (IPO) for other investors.
Subscriptions for the issue will open on December 1 and finish on December 3. The offer's price range has been set at Rs 443-453 per equity share.


According to the company's BSE filing, Tega Industries has finalized the allocation of 41,00,842 equity shares to anchor investors in conjunction with book-running lead managers at a price band of Rs 453 per equity share.

SBI Mutual Fund, ICICI Prudential, HDFC Trustee Company, Axis Mutual Fund, Aditya Birla Sun Life Trustee, Kotak Mutual Fund, and Tata Mutual Fund were among the key players in the anchor book. Goldman Sachs, BNP Paribas Arbitrage, Kuber India Fund, Elara India Opportunities Fund, and Ashoka India Equity Investment Trust Plc were among the company's investors.

Tega Industries plans to raise Rs 619.22 crore through a public offering at the top of the pricing range. This IPO is only a sale of 1,36,69,478 equity shares by selling shareholders - promoters (Madan Mohan Mohanka and Manish Mohanka) and investor Wagner.

Tega Industries, with six manufacturing locations, is a leading manufacturer and distributor of specialized 'essential to run' and recurring consumable products for the global mineral beneficiation, mining, and bulk solids handling industries. It offers around 55 mineral processing and material handling products in its product portfolio.
Axis Capital and JM Financial are the issue's book running lead managers.


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