Kolkata based Tega Industries IPO To Open On December 1

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Kolkata based Tega Industries IPO To Open On December 1

The preliminary share-sale of Tega Industries, producer of consumables for the mining trade, will open for public subscription on December 1.

The three-day preliminary public providing (IPO) will conclude on December 3, in keeping with the crimson herring prospectus (RHP).

The IPO is solely a proposal of sale of 1,36,69,478 fairness shares by promoters and an current shareholder. As part of the supply on the market, promoters Madan Mohan Mohanka will offload as much as 33.14 lakh fairness shares and Manish Mohanka will promote 6.63 lakh fairness shares. In addition, Wagner, an affiliate of the US-based non-public fairness agency TA Associates, will offload 96.92 lakh fairness shares by the supply on the market.

Currently, promoter and promoter group maintain 85.17 per cent stake within the firm and Wagner owns 14.54 per cent shareholding.

The Kolkata-based Tega Industries gives complete options to marquee world shoppers within the mineral beneficiation, mining, and bulk solids dealing with trade, by its large product portfolio.

Axis Capital and JM Financial are the service provider bankers to the general public subject. The shares of the corporate shall be listed on each BSE and NSE.

(PTI)


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