The IPO of Tega Industries was subscribed 13.5 times on Thursday, a day before its close. The retail portion of the IPO was subscribed 16.8 times, the wealthy investor portion 19.2 times and institutional investor portion 3.6 times. Tega Industries is a manufacturer of consumables for the mining industry. Its IPO is entirely an offer for sale. The price band for the IPO is Rs 443-453 per share. At the top-end, the company is valued at about 22 times its FY21 earnings and will have a market cap of Rs 3,000 crore.
Anand Rathi Wealth IPO subscribed 1.5 times on day 1
Anand Rathi Wealth’s IPO was subscribed 1.5 times on Thursday, the first day of the issue. A day earlier, the private wealth manager had allotted nearly Rs 194 crore to anchor investor at Rs 550 per share, the top-end of the price band. Anand Rathi Wealth’s IPO is entirely an offer for sale of 12 million shares. At the upper end of the price band, the issue size works out to Rs 660 crore. The company is a private wealth solutions provider and a mutual fund distributor. It has assets under management stood at Rs 29,470 crore as of August 31, 2021.
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