Tega Industries IPO: GMP, price, other details. Should you subscribe?2 min read . Updated: 01 Dec 2021, 11:50 AM IST
- Tega Industries IPO GMP today is ₹385, which is ₹5 higher from its yesterday's grey market premium of ₹380, say market observers
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Tega Industries IPO (Initial Public Offering) opened for subscription today and it will remain open for bidding till 3rd December 2021. The issue was fully subscribed within an hour. As of 11:52 am, Tega Industries IPO was subscribed 1.5 times with retail portion subscribed over 3 times. From this book build issue, company aims to raise ₹619.23 crore. The public issue is 100 per cent OFS (Offer for Sale) in nature. As expected, ahead of subscription opening, shares of Tega Industries have become available for trade. As per the market observers, Tega Industries shares are trading at a premium of ₹385 in the grey market today.
Here we list out important Tega Industries IPO details below:
- Tega Industries IPO GMP: According to market observers, Tega Industries IPO grey market premium (GMP) today is ₹385, which is ₹5 higher from its yesterday's GMP of ₹380. Market observers said that rise in GMP of the public issue ahead of subscription opening is unexpected as stock market sentiment is still negative. They said that performance of Tega Industries shares in the grey market may impact its subscription as some section of the IPO investor take GMP very seriously.
- Tega Industries IPO price band: The company management has fixed this public issue's price band at ₹443 to ₹453 per equity share.
- Tega Industries IPO size: The public issue is completely OFS (Offer for Sale) and company aims to raise ₹619.23 crore from their offer.
- Tega Industries IPO lot size: A bidder of this public issue will be able to apply in lots and one lot will comprise 33 shares of the company. One bidder will be able to apply for maximum 13 lots.
- Tega Industries IPO investment limit: As one bidder can apply for minimum one lot and maximum 13 lots, the minimum investment allowed in the public issue is ₹14,949 ( ₹453 x 33) whereas maximum investment limit is capped at ₹1,94,337 [( ₹453 x 33) x 13].
- Tega Industries IPO subscription date: As mentioned above, the public issue opens today and it will remain open till 3rd December 2021.
- Tega Industries IPO allotment date: The tentative date for share allocation is 8th December 2021.
- Tega Industries IPO listing: Shares of the company will be listed on both NSE and BSE and the likely date of Tega Industries share listing is 13th December 2021.
- Tega Industries IPO buy or not: Speaking on Tega Industries IPO; Avinash Gorakshkar, Head of Research at Profitmart securities said, "Bidder are advised to keep an eye on the Indian and global markets as new Covid variant has hit global bourses very badly. If NSE Nifty sustains below 17,000 levels, then the public issue will become available for subscription in a bear-hit market. In that case, 100 per cent OFS of the public issue might play a hurdle."
Advising investors to subscribe Tega Industries IPO for long term; Ravi Singh, Head of Research & Vice President at ShareIndia said, "There is a significant scope for new mining capacities and considerable opportunities for future discoveries of sub-surface deposits of metals in India. India’s mineral production of most of the important minerals is also showing positive growth during 2021. Since Tega Industries deals in manufacturer of consumables concerning the mining industry, investors may include this IPO in their portfolio for long term gains.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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