Tega Industries Limited IPO: GMP, Issue Price, Issue Size

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Tega Industries
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Tega Industries IPO which is a leading manufacturer and distributor of specialized, critical, and recurring consumable products for the global mineral beneficiation, mining, and bulk solids handling industry is all set to make its debut on the stock market with an issue size of 619.23 Cr.  

Tega Industries Limited IPO –Overview  

Tega Industries Limited IPO Issue Date  1 – 3 December 2021 
Tega Industries Limited IPO Opening Date  3 December 2021 
Tega Industries Limited IPO Face Value  INR 10 per share  
Tega Industries Limited IPO Price  INR 453 per share 
Tega Industries Limited IPO Lot Size  33 Shares 
Issue Size  619.23 Cr 
Offer for sale  619.23 Cr 
Issue Type  Book built Issue IPO  
Listing At  BSE, NSE 
QIB Shares Offered  50 % 
NII (HNI) Shares Offered  15% 
Retail Shares Offered  35% 
Company Promoters  Madan Mohan Mohanka, Manju Mohanka, Manish Mohanka, Mehul Mohanka and Nihal Fiscal Services Private Limited are the company promoters. 
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Tega Industries Limited IPO-Tentative Dates  

Tega Industries Limited IPO opening date  1 December 2021   
Tega Industries Limited IPO closing date  3 December 2021 
Basis of Allotment   8 December 2021 
Initiation of Refunds   9 December 2021 
Credit of Shares to Demat 10 December 2021 
Tega Industries Limited IPO Listing Date  13 December 2021 

Tega Industries Limited IPO- Industry Overview  

The GDP contribution of the mining and quarrying sector, both in terms of nominal and real GDP, has declined over the last decade. Regarding nominal GDP, as can be seen from the chart below, the share of mining and quarrying declined from 2.13% in 2015–2016 to 1.75% by 2019–2020; the goal of the government is to raise the share from 1.75% to 2.50% (The Hindu; Financial Express; India Today). A timeline for this 2.5% commitment, however, is not clear, with 2024–2025 assumed as the timeline, in line with the government’s 2024–2025 vision of becoming a $5 trillion economy. 

Tega Industries

Tega Industries Limited IPO Company Overview  

Tega Industries is a leading manufacturer and distributor of specialized ‘critical to operating and recurring consumable products for the global mineral beneficiation, mining, and bulk solids handling industry, based on sales for the calendar year2020. Globally, they are the second-largest producer of polymer-based mill liners, based on revenues for the calendar year 2020. 

They offer comprehensive solutions to marquee global clients in the mineral beneficiation, mining and bulk solids handling  industry,  through  their  wide  product  portfolio of specialized  abrasion and wear-resistant rubber, polyurethane, steel, and ceramic-based lining components, used by their customers across different stages of mining and mineral processing, screening, grinding and material handling, including after-market, spends on wear, spare parts,  grinding media, and power,  which are regular operating expenses for their customers.   

The engineering capability, which has evolved over decades, has enabled us to consistently offer quality, complex manufactured products within stipulated timelines, allowing us to reduce downtime and maximize operational efficiency for their customers, and forge robust relationships with their customers leading to high recurring revenues. 

 The product portfolio comprises more than 55 mineral processing and material handling products. As an average of, the last three Fiscal. 2021, 2020, and 2019, the sale of products constitutes 95.08% of their revenue from 136 operations, while their sales of services and other operating revenue constitute2.15% and 2.77%, respectively of the revenue from operations. 

Tega Industries Limited IPO Objectives  

  • The aims of the offer are to achieve the benefits of listing equity shares on the stock exchanges. 

Tega Industries Limited IPO Financial Statements  

Particulars 30-Sep-21 31-Mar-21 31-Mar-20 31-Mar-19 
Total Assets 32,933.63 32,994.87 34,173.03 33,656.31 
Total Revenue 1,793.86 8,566.84 6,955.42 6,430.13 
Profit After Tax 118.82 1,364.05 655.04 326.70 

Tega Industries Limited IPO Strengths 

  • One of the world’s largest producers of polymer-based mill liners 
  • Global footprint across major global mining locations and supply of products across 70 countries. 
  • In-house R&D and manufacturing capabilities and a strong focus on quality control 
  • Global customer base, and strong global manufacturing and sales capabilities 
  • Consistent market growth and operational efficiency 
  • Experienced management team supported by a large, and diversified workforce 

Tega Industries Limited IPO Weakness  

  • The company does not have firm commitments or long-term supply agreements with the majority of their customers and instead relies on purchase orders. 
  • Risk of global manufacturing facilities due to factors including social, geopolitical and environmental changes in foreign countries. 

Company Contact Information

Tega Industries Limited
147, Block-G, New Alipore,
Kolkata 700 053,
West Bengal, India
Phone: +91 33 3001 9000
Email: compliance.officer@tegaindustries.com
Websitehttps://www.tegaindustries.com/

Tega Industries IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: tega.ipo@linkintime.co.in
Websitehttps://linkintime.co.in/

Tega Industries IPO Lead Manager(s)

  1. Axis Capital Limited 
  2. JM Financial Limited 

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