About Tega Industries IPO

Founded in 1976, Tega Industries is a leading manufacturer of specialised, ‘critical to operate’, and consumable products for the international mining, bulk solid handling and mineral beneficiation industry. The company offers a wide range of dedicated lining components made out of polyurethane, wear and abrasion resistant rubber, ceramic and steel. Such products are primarily used for handling materials, screening, grinding, mineral processing and mining.

Tega Industries has been a leader in this segment with international certification. It has a global customer base. Additionally, the company is the 2nd largest producer of mill liners based on polymers. This product plays a pivotal role in lowering the cost of operation and bringing more efficiency to the system.

Tega Industries has operations in India, Australia, Chile, and South Africa. It exports products and solutions to more than 70 countries across the globe.

Tega Industries IPO Objectives :

- To receive the benefits of listing its stock on the exchanges.

Tega Industries IPO – Details

As per the Draft Red Herring Prospectus filed with SEBI, Tega Industries is planning to raise about Rs. 619 crores through this IPO. This public issue will go live on 1 December 2021 and close on 3 December 2021.

This IPO will only consist of an offer for sale of 1,36,69,478 equity shares at a face value of Rs. 10 per share. The current promoters will divest their stake through this offer, and its particulars are –

  1. 33.14 lakh shares from Madan Mohan Mohanka
  2. 6.63 lakh shares from Manish Mohanka
  3. 96.92 lakh shares from Wagner Limited, which is an affiliate of TA Associates, a USA-based private equity firm

Moving ahead, Axis Capital Limited and JM Financial Limited are the book running lead managers of this public issue. Additionally, Link Intime India Private Limited is the registrar of this IPO.

Opening Date

1 December 2021

Closing Date

3 December 2021

Price Band

₹443 to ₹453

per equity share

Issue Size

₹619.23Cr

Face Value

₹ 10

per equity share

Market Lot

33 Shares

Opening Date

1 December 2021

Closing Date

1 December 2021

Price Band

₹443 to ₹453

per equity share

Issue Size

₹619.23Cr

Face Value

₹ 10

per equity share

Market Lot

33 Shares

Listing at NSE, BSE

Tega Industries IPO – Important Dates

IPO Open Date 1 December 2021
IPO Close Date 3 December 2021
Basis Of Allotment Date 8 December 2021
Initiation Of Refunds 9 December 2021
Credit Of Shares To
Demat ACcount
10 December 2021
IPO Listing Date 13 December 2021

Tega Industries IPO Latest News and Subscription Status Today [Live]

At 10.40:00 AM.

- This IPO has been subscribed 16.69x by 10:40 AM. on Day 3

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 4.02x

- (NII) Non-institutional buyers: 27.21x

- (RII) Retail Individual buyers: 19.43x

 

At 11.40:00 AM.

- This IPO has been subscribed 19.96x by 11:40 AM. on Day 3

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 4.20x

- (NII) Non-institutional buyers: 37.12x

- (RII) Retail Individual buyers: 21.62x

 

At 12.40:00 PM.

- This IPO has been subscribed 38.48x by 12:40 PM. on Day 3

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 13.76x

- (NII) Non-institutional buyers: 107.86x

- (RII) Retail Individual buyers: 22.88x

 

At 1.40:00 PM.

- This IPO has been subscribed 91.85x by 1:40 PM. on Day 3

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 43.29x

- (NII) Non-institutional buyers: 314.07x

- (RII) Retail Individual buyers: 24.36x

 

 

At 2.40:00 PM.

- This IPO has been subscribed 183.90x by 2:40 PM. on Day 3

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 156.30x

- (NII) Non-institutional buyers: 586.28x

- (RII) Retail Individual buyers: 27.24x

 

At 3.40:00 PM.

- This IPO has been subscribed 215.05x by 3:40 PM. on Day 3

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 211.98x

- (NII) Non-institutional buyers: 653.94x

- (RII) Retail Individual buyers: 28.70x

 

At 5:10:00 PM.

- This IPO has been subscribed 219.04x by 5:10 PM. on Day 3

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 215.45x

- (NII) Non-institutional buyers: 666.19x

- (RII) Retail Individual buyers: 29.44x

At 10.40:00 AM.

- This IPO has been subscribed 6.04x by 10:40 AM. on Day 2

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.07x

- (NII) Non-institutional buyers: 5.26x

- (RII) Retail Individual buyers: 9.79x

 

At 11.40:00 AM.

- This IPO has been subscribed 6.80x by 11:40 AM. on Day 2

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.07x

- (NII) Non-institutional buyers: 6.03x

- (RII) Retail Individual buyers: 10.98x

 

At 12.40:00 PM.

- This IPO has been subscribed 7.68x by 12:40 PM. on Day 2

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.16x

- (NII) Non-institutional buyers: 7.00x

- (RII) Retail Individual buyers: 12.27x

 

At 1.40:00 PM.

- This IPO has been subscribed 8.29x by 1:40 PM. on Day 2

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.16x

- (NII) Non-institutional buyers: 8.13x

- (RII) Retail Individual buyers: 13.00x

 

At 3.10:00 PM.

- This IPO has been subscribed 9.52x by 3:10 PM. on Day 2

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.16x

- (NII) Non-institutional buyers: 10.45x

- (RII) Retail Individual buyers: 14.46x

 

At 4.10:00 PM.

- This IPO has been subscribed 12.98x by 4:10 PM. on Day 2

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 3.09x

- (NII) Non-institutional buyers: 18.11x

- (RII) Retail Individual buyers: 16.43x

 

At 5.10:00 PM.

- This IPO has been subscribed 13.87x by 5:10 PM. on Day 2

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 3.35x

- (NII) Non-institutional buyers: 20.48x

- (RII) Retail Individual buyers: 17.04x

At 10.40:00 AM.

- This IPO has been subscribed 0.91x by 10:40 AM. on Day 1

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.05x

- (RII) Retail Individual buyers: 1.81x

 

At 11.40:00 AM.

- This IPO has been subscribed 1.53x by 11:40 AM. on Day 1

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x

- (NII) Non-institutional buyers: 0.13x

- (RII) Retail Individual buyers: 3.01x

 

At 1.10:00 PM.

- This IPO has been subscribed 2.20x by 1:10 PM. on Day 1

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x

- (NII) Non-institutional buyers: 0.23x

- (RII) Retail Individual buyers: 4.29x

 

At 2.10:00 PM.

- This IPO has been subscribed 2.74x by 2:10 PM. on Day 1

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x

- (NII) Non-institutional buyers: 1.52x

- (RII) Retail Individual buyers: 4.81x

 

At 3.10:00 PM.

- This IPO has been subscribed 3.64x by 3:10 PM. on Day 1

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x

- (NII) Non-institutional buyers: 1.98x

- (RII) Retail Individual buyers: 6.43x

 

At 4.30:00 PM.

- This IPO has been subscribed 4.23x by 4:30 PM. on Day 1

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.07x

- (NII) Non-institutional buyers: 2.56x

- (RII) Retail Individual buyers: 7.33x


At 5.10:00 PM.

- This IPO has been subscribed 4.67x by 5:10 PM. on Day 1

- It is a public issue of 95,68,636 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.07x

- (NII) Non-institutional buyers: 4.17x

- (RII) Retail Individual buyers: 7.51x

Why Should I Invest in Tega Industries IPO?

Here are some notable points on why investing in the public issue of Tega Industries can be a good option –

1. It boasts an impressive inventory of products with dedicated lining components made out of wear and abrasion resistant rubber, polyurethane, ceramic and steel.
2. With its wide product portfolio, Tega Industries caters to a variety of sectors, including mineral processing and mining, handling of materials, grinding, and screening.
3. The company caters to a global client base by exporting products to more than 70 countries. Additionally, it has India, Chile, Australia, and South Africa.
4. Tega’s products meet the aftermarket demands as well, which reflects in recurring revenue.

Financial Highlights

Financial Year Total Assets Total income Total Expenses Profit After Tax
March FY2020 Rs. 10,183.39 Rs. 8,566.84 Rs. 6,755.00 Rs. 1,364.05
March FY2019 Rs. 8,873.15 Rs. 6,955.42 Rs. 6,381.08 Rs. 655.04
March FY2018 Rs. 7,902.68 Rs. 6,430.13 Rs. 5,983.67 Rs. 326.70
**Amount is mentioned in millions

How to Apply for Tega Industries IPO?

You can apply for the Tega Industries IPO in these ways:

Demat Account

New investors planning to apply for this public issue of Tega Industries can do so through a Demat account. They can open one such account using the Angel One platform without paying any additional fees. Once they get their login information, they can bid for this IPO of Tega Industries.


Conversely, present clients of Angel One can click here to take support from the Angel One platform to apply for this public issue.

UPI

On the other hand, prospective investors can also use their UPI IDs to apply for this Tega Industries IPO. Initially, they need to connect their bank account with a UPI service provider. After that, they can link it with their Angel One account.


They can use the option of UPI on the Angel One website or mobile application to bid for a public issue of their choice. Furthermore, they can also visit their respective UPI apps to block the IPO subscription amount as required.

Tega Industries IPO – Noteworthy Highlights

Here are some notable pointers associated with Tega Industries that potential investors should know before investing their money in it –

1. Tega Industries is the 2nd largest producer of mill liners based on polymers in the world. This provides the company with global exposure.

2. 86.42% of the company’s revenue in 2021 came from its foreign operations.

3. Moreover, the product portfolio of Tega Industries entails more than 50 material handling and mineral processing products.

4. Tega Industries has 3 manufacturing facilities in India (1 in West Bengal and 2 in Gujarat).

5. In the previous 3 financial years, Tega Industries had a presence in 513, 498, and 479 installation locations across 70 countries.

6. Tega Industries has 14 domestic and 18 international offices employing more than 1700 individuals.

Tega Industries SWOT Analysis

strengths

Strengths

  • Experienced management: The experience of the management on Tega Industries has maintained operational efficiency and its market growth.
  • Strong financials: The company’s balance sheet reflects a strong financial position that propels it to expand its footprints in the other markets.
Weaknesses

Weaknesses

  • Over-reliance on the overseas business: A majority of Tega Industries business relies on its overseas business. It can backfire in cases if something changes in the global market.
Opportunities

Opportunities

  • Venturing into new markets: The company is now exploring new markets in South and North America, South Africa and Australia.
Threats

Threats

  • Rising competition: Tega Industries is now facing strong competition from other players in this industry, which can have a negative effect on its revenue.
Strenghts Strengths
Weaknesses Weaknesses
Opportunities Opportunities
Threats Threats

Strengths

  • Experienced management: The experience of the management on Tega Industries has maintained operational efficiency and its market growth.

  • Strong financials: The company’s balance sheet reflects a strong financial position that propels it to expand its footprints in the other markets.

Weaknesses 

  • Over-reliance on the overseas business: A majority of Tega Industries business relies on its overseas business. It can backfire in cases if something changes in the global market.

Opportunities 

  • Venturing into new markets: The company is now exploring new markets in South and North America, South Africa and Australia.

Threats 

  • Rising competition: Tega Industries is now facing strong competition from other players in this industry, which can have a negative effect on its revenue.

Competitive Analysis: Market Peers

Here is an overview of how the listed market peers of Tega Industries are performing as of 28 November 2021 –

Competitor Face value Sector P/E Market Cap. Dividend yield
AIA Engineering Ltd. 2 33.39 Rs. 17,537 0.48
Cranex Limited 10 23.49 Rs. 10 NA
Bemco Hydraulics Ltd. 10 56.58 Rs. 47 NA
Kilburn Engineering Ltd. 10 23.49 Rs. 91 NA
Artson Engineering Ltd. 1 61.95 Rs. 382 NA
** Note: Market cap is mentioned in crores

Tega Industries IPO FAQs

How to apply for the initial public offering of Tega Industries IPO via the Angel One App?

To apply for an IPO, follow the steps below –

Step 1: Visit the ‘investment opportunities’ section on the Angel One mobile app

Step 2: Go to the ‘IPOs and FPOs’ option and enter the details required

Step 3: Enter your NPCI certified UPI handle

Step 4: Now click on ‘invest’ and enter your bid for this Tega Industries IPO

Can I submit bids for the IPO of Tega Industries without using a UPI ID?

Yes, you can submit bids for the initial public offering of Tega Industries without using a UPI ID. In that case, you need to take the help of the ASBA process provided by your bank. However, if you do not have a UPI ID, you can generate one without any hiccups by referring to any of the UPI handles on the NPCI List.

Should I accept a UPI mandate immediately?

Yes, you can submit bids for the initial public offering of Tega Industries without using a UPI ID. In that case, you need to take the help of the ASBA process provided by your bank. However, if you do not have a UPI ID, you can generate one without any hiccups by referring to any of the UPI handles on the NPCI List.

How to accept a UPI mandate request for the IPO of Tega Industries?

You can easily accept a UPI mandate request for the Tega Industries IPO through a UPI app. Nevertheless, to study the specifics of this procedure and allied steps, click here.

What is the process of creating a UPI ID through the BHIM app?

To create a UPI ID using the BHIM app, you can refer to the steps mentioned below –

Step 1: Download and install the BHIM UPI app on your mobile phone

Step 2: Review and authenticate your mobile number and create a PIN or password needed to use this app

Step 3: Choose a bank from the list of financial institutions provided on NPCI’s list of approved service providers

Step 4: BHIM UPI App will then fetch your bank account details without any manual input

Step 5: If you have multiple bank accounts, choose one that you want to register and link with this app

Step 6: Create a personal UPI ID for security reasons

Afterwards, you can check your UPI ID in the ‘Profile’ section of this app.

Is it possible to apply for the IPO of Tega Industries through a current account?

No, you cannot apply for the public offering of Tega Industries or any other IPO through a current account. Since financial institutions do not approve any bids made via such accounts, you can instead use a savings account for this purpose. Additionally, you can talk to the representatives of your respective banks for more information.

Is it possible to apply for the initial public offering of Tega Industries through my minor daughter’s account?

No, it is not possible to apply for the public issue of Tega Industries or any other company through your minor daughter’s account via the Angel One platform. Conversely, a minor can bid for IPOs using the ASBA process.

Is it possible to apply for the IPO of Tega Industries through a HUF or Hindu Undivided Family account?

No, it is not possible to apply for the IPO of Tega Industries through a Hindu Undivided Family account. However, if you apply for any IPO through the ASBA process, in that case, you can utilise this account.

Can NRIs use the Angel One app to apply for this public issue of Tega Industries?

No, NRIs cannot use the Angel One app to submit bids for this Tega Industries IPO. But, they can always take the assistance of the ASBA (Application Supported by Blocked Amount) process offered by their respective banks to apply for any public issue.

What is the nominal time needed to get a UPI mandate request following the submission of an IPO application for the public issue of Tega Industries?

The minimum time needed to get a UPI mandate request following the submission of an application for this IPO of Tega Industries is 10 to 15 minutes. However, this process can get postponed at times owing to various reasons.

I have failed to submit bids for this public issue of Tega Industries using my existing UPI handle. What is the reason?

The reason for your failure to submit a bid for the IPO of Tega Industries through your current UPI ID is due to the fact that it does not have NPCI’s approval. In such cases, you can generate a new one from the list of service providers who have NPCI’s approval to extend UPI service. You can simply register with any one of them and complete this process.

What is the minimum required time block or unblock the funds of an IPO subscription?

Once you approve a UPI mandate request, banks will freeze the funds necessary for an initial public offering. Nonetheless, these funds will be unblocked only if you fail to get an allotment or if the UPI mandate expires.

However, if your funds are not unblocked even after that, get in touch with your bank for further clarification.

Even after accepting the mandate request of Tega Industries’ public issue, its position on the Angel One App is displaying impending. What can be the reason for that?

If you see a pending status against your IPO mandate request of the public issue of Tega Industries or any other company, you cannot do anything. The reason is, Angel One App is not capable of showing real-time updates of UPI Mandate requests. But, if you have sanctioned it, it will then display its actual position on the order book of that IPO after some time.

Are there any added charges required to apply for this public issue of Tega Industries via the Angel One platform?

No, there are no add-on charges necessary to apply for this public issue of Tega Industries using the Angel One platform.

Can I submit more than one bid for a public issue using a single PAN?

No, you cannot submit more than one bid for a public issue via a single PAN. The reason is, in such cases, IPO applications are rejected as per the current guidelines from the Indian Government. Therefore, you will not manage to secure an allotment for this public issue of Tega Industries or any other firm.

What are the probable reasons behind the dismissal of my IPO application for Tega Industries?

Plausible reasons for your Tega Industries IPO application getting rejected can be –

  • Failing to assure that your UPI ID, Demat account, and bank account are linked with the same PAN
  • Providing a wrong UPI PIN during mandate approval

For instance, in case you use your Demat account to bid for this public issue and use your friend’s UPI ID to make payment. In that case, your application can get rejected –

  • If your PAN and your friend’s UPI ID are not linked
  • If your Demat account is not connected with your friend’s bank account

What is a cut-off price? Can I apply for a public issue at this price?

The cut-off price is a price point at which the shares of Tega Industries or other companies will be listed on the stock market. This is a pre-set price and is principally set during the allotment stage. Moreover, if you bid at this price, it implies that you are willing to bid for Tega Industries’ IPO at this price point.

Also, applying at this cut-off price improves your chances of securing an allotment.

I have submitted the final application for this initial public offering of Tega Industries; but, the funds are not debited. So, what is the reason?

The reason for the funds not being debited is that banks do not release funds of an IPO subscription right after you submit a bid. Instead, they will freeze this amount for the time being, and once you receive the allotment, they will debit it eventually.

On the other hand, if you fail to get an allotment or your UPI mandate expires, banks will release this amount.

Can I change my subscription bid for the public issue of Tega Industries after finalising the application?

Yes, it is possible to change your subscription bid for the initial public offering of Tega Industries even after finalising the application. Here, you have the provision to alter the UPI ID and the lot size after submitting your bid. Nevertheless, a point to keep in mind here is that if you make any modifications after approving your UPI mandate request, it will be considered a new bid.

In such cases, banks will block the required amount once again and alongside your current bid amount. Also, you will get a new UPI mandate request for this bid, like before.

How to get a guaranteed allotment for this public issue of Tega Industries?

It is not possible to ensure allotment for any IPO, irrespective of the public issue you decide to apply for. In case of an oversubscription, which is a regular affair, the allocation of shares is completed via a lottery system. So, it is not possible to provide any certainty in this regard.

A point to remember here is that the Angel One platform only allows you to apply for an IPO, and it does not offer any guarantee regarding the allotment.

Nonetheless, you can still boost up your chances by following some tips –

  • Applying at the cut-off price
  • Using a Demat Account linked with your PAN
  • Confirm that your bank account and UPI ID are linked through a single PAN, and failing to keep that can lead to rejection. For instance, person X has applied for the Tega Industries IPO via his Demat Account but person Y’s UPI ID. In such cases, the application can get rejected due to –
  • Person Y’s UPI ID is not linked with X’s PAN
  • Person X’s Demat account is not linked with Y’s bank account

I cannot find my UPI ID in the dropdown menu of the Angel One App when submitting bids for this public issue of Tega Industries. What can be the reason?

In case you cannot locate your UPI ID under the dropdown menu of the Angel One App, it means your current UPI ID does not have NPCI’s approval. In such a case, you can just create a different one with any of the UPI handles allowed and declared under the NPCI List.

How to locate a UPI ID in the Angel One mobile app?

You can locate a UPI ID in the ‘profile’ section of the Angel One app.

Can I apply for this IPO of Tega Industries without using a bank account that is not linked with the Angel One app?

Yes, you can apply for the public issue of Tega Industries via a bank account, which is not connected with the Angel One app. In such cases, this bank account must be in your name.

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