Tega Industries IPO will open on Wednesday, December 1, and the price band for the issue has been set at ₹443-453 per share.
At the upper end of the price band, Tega Industries IPO is expected to fetch ₹619.22 crore.
Ahead of its three-day IPO, Tega Industries said on Tuesday it has garnered ₹186 crore from anchor investors.
BNP Paribas Arbitrage, Goldman Sachs Funds, Ashoka India Equity Investment Trust Plc, Kuber India Fund, SBI Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Axis MF, Tata MF and Aditya Birla Sun Life MF are among the anchor investors.
According to a BSE circular, the Kolkata-based company has decided to allocate 41 lakh equity shares to anchor investors at ₹453 apiece, valuing the transaction size to ₹185.76 crore.
Tega Industries IPO is purely an offer for sale (OFS) of 1,36,69,478 equity shares by promoters and an existing shareholder. Promoters Madan Mohan Mohanka and Manish Mohanka will offload 33.14 lakh and 6.63 lakh equity shares, respectively.
Wagner, an affiliate of the US-based private equity firm TA Associates, will also offload 96.92 lakh equity shares.
Currently, the promoter and promoter group hold 85.17 per cent stake in the company and Wagner owns 14.54 per cent shareholding.
Documents show half of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and 35 per cent for retail investors. Investors can bid for a minimum of 33 equity shares and in multiples thereof.
Axis Capital and JM Financial are the merchant bankers to the public issue. Shares of the manufacturer of consumables for the mining industry will be listed on both BSE and the National Stock Exchange (NSE).
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