Kolkata-based Tega Industries Files for IPO

Investment bankers appointed to the issue include Axis Capital Limited and JM Financial Limited

Kolkata-based Tega Industries Files for IPO
Kolkata-based Tega Industries Files for IPO
OLM Desk - 18 August 2021

Tega Industries Limited, global leader in the design and production of consumables for the mineral beneficiation, mining and bulk solids handling industry has filed for initial public offer of Rs 700 -750 crore with the market regulator, according to market sources.

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. Details of OFS are “promoter selling shareholders” 33,14,657 equity shares by Madan Mohan Mohanka, up to 6,62,931 equity shares by Manish Mohanka and up to 96,91,890 by Wagner Limited, an affiliate of the US-based private equity firm TA Associates. The company will not receive any proceeds from the offer since it involves only the Offer for Sale.

The portion reserved for qualified institutional buyers will be up to 50 per cent of the offer, non-institutional investors to have up to 15 per cent of the portion reserved while up to 35 per cent will be reserved for the retail investors. The equity shares offered are proposed to be listed on the BSE and NSE stock exchanges.

Investment bankers appointed to the issue are Axis Capital Limited, JM Financial Limited and Link Intime India Private Limited is the registrar to the offer.

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