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The Tega Industries initial public offering (IPO) sailed through on the first day with the issue being subscribed to 4.67 times on the first day.
The IPO of the manufacturer of consumables for the mining industry opened for public subscription today.
The Tega Industries IPO received bids for 4.47 crore shares on the first day against 95 lakh shares that were offered, as per BSE data. The portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 0.07 times. The portion reserved for non-institutional investors was subscribed 4.17 times while portion reserved for retail individual investors was subscribed 7.51 times.
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Tega Industries files IPO papers with SEBI
IPO is an offer of sale for 1,36,69,478 equity sharesTega Industries is planning to raise ₹619 crore through the public issue at the upper end of the price band of ₹443-453 per share.
The three-day Tega Industries IPO will conclude on December 3.
Ahead of the public issue, the company had allocated 41,00,842 equity shares at ₹453 per share to 25 anchor investors, raising a total of ₹185.75 crore. Its issue size was reduced to 95 lakh shares from previously 1.36 crore subsequently.
Star Health and Allied Insurance
Meanwhile, the IPO of Jhunjhunwala-backed firm Star Health and Allied Insurance Company has been subscribed 0.20 times so far. The issue opened on November 30.
Retail investors’ portion received bids worth 0.89 times while QIBs and NIIs quotas saw a subscription of 0.07 times and 0.02 times respectively at 5 pm on December 1, as per BSE data. Employee Reserved portion was subscribed 0.05 times.
The standalone health insurance player’s IPO includes a fresh issue of equity shares worth ₹2,000 crore and an OFS by existing shareholders of the company worth ₹5,249 crore on the upper end of the price band.
The price band of the offer has been fixed at ₹870-900 a share.
Ahead of the IPO, the company had raised ₹3,217.13 crore from anchor investors, allocating a total of 3,57,45,901 equity shares to 62 anchor investors at ₹900 apiece per share.
The issue closes tomorrow.
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