TEGA INDUSTRIES RS 619-Crore Initial public offering continues to see healthy requests, with a problem with subscribing 9 times on the afternoon of December 2, the second day of the offer. Investors have an offer for 8.61 crore shares on the size of the IPO 95.68 lakh equity stock.
Retail and non-institutional investors provide strong support for this problem because the portions are set aside for them subscribing to 13.80 times and 9.62 times. Institutional investors who meet the requirements to buy 16 percent of the shares quota allocated.
The IPO is fully an offer – for sale up to 13,669,478 shares of equity by promoters and shareholders, therefore the company will not receive results. The price band for this offer is Rs 443-453 per share.
TEGA INDUSTRIES is a leading manufacturer and specialized distributor of “critical to operate” and repeated consumables for the global mineral handling industry, mining and mass mining. Globally, this is the second largest polymer-based liner manufacturer based on income in June 2021.
“The company carries a problem with the ribbon price of Rs 443-453 per share on the multiples of price-to-income (P / E) of 22 on post EPS Post. The company, as a leading manufacturer of special and critical products – to operate with high obstacles for Replacement or substitution is isolated from the cable cycle of mining, because the product serves expenses after the market, provides recurring income, “Hem Securities said.
The company has an added value and technology-intensive product, which is supported by a strong R & D and focus on quality control. “This is a long market player with a global marquee customer base and global manufacturing capabilities and strong sales,” said the broker. Companies with consistent growth marked by operational efficiency and high recurring business have a team of experienced management supported by large, diverse and skilled workforce, he said.
Hem Securities recommends to subscribe to problems to get gain listings and long-term goals.
