Tega Industries, whose IPO saw a robust response from investors made a stellar debut on the bourses on Monday, listing at over 66 per cent premium over its issue price of ₹453.
Tega Industries listed on the BSE at ₹753, up ₹300 or 66.23 per cent over its issue price. It listed at ₹760 on the NSE, up ₹307 or 67.77 per cent over the issue price.
The IPO of the manufacturer of consumables for the mining industry saw a robust response from all categories of investors. The company had fixed its issue price at ₹453 apiece, at the upper end of the ₹443-453 price range.
The ₹619-crore IPO was subscribed more than 219 times, with the quota reserved for qualified institutional bidders being subscribed 215 times. The HNI portion was subscribed 666 times and retail allocation by 29 times.
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 1.36 crore previously.