Tega Industries IPO a huge hit; subscribed 219.04 times on last day of subscription

The initial public offer of Tega Industries Limited, manufacturer of consumables for the mining industry, received an overwhelming response from investors as it got subscribed a whopping 219.04 times on the last day of subscription on Friday.

The Rs 619.22 crore IPO received bids for 2,09,58,69,600 shares against 95,68,636 shares on offer, according to data with the exchanges.

The category for non-institutional investors got subscribed 666.19 times, Qualified Institutional Buyers (QIBs) received 215.45 times subscription, and Retail Individual Investors (RIIs) 29.44 times.

The initial public offer was of up to 1,36,69,478 equity shares and had a price range of Rs 443-453 a share.

The initial public offer of Tega Industries was fully subscribed within one hour of opening on Wednesday.

Tega Industries on Tuesday garnered Rs 186 crore from anchor investors.

Kolkata-based Tega Industries offers comprehensive solutions to marquee global clients in the mineral beneficiation, mining, and bulk solids handling industry through its wide product portfolio.

Axis Capital Limited and JM Financial were the managers of the offer.

Shares of the company will be listed on both BSE and NSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)