Tega Industries

Tega Industries fell 4 per cent after the company, along with Apollo funds, entered into a term sheet to acquire Molycop

Molycop, on the other hand, is a supplier of grinding media to the mining industry, with a focus on the manufacture and sale if grinding media and chemicals for use in both SAG mill and ball mills

In Q2FY25, the company's EBITDA decreased 58% YoY at Rs 34.4 crore; margin contracted to 9.7 per cent from 21.6 per cent in Q2FY24, impacted due to onetime expenses incurred during the quarter.

Construction company Kalpataru Projects International Limited is the consortium leader

On June 19, Tega's promoters sold over 2.7 million equity shares, amounting to 4.1 per cent of the total equity share capital, to meet the minimum public shareholding norms

Thus far in the calendar year, the stock has zoomed 56 per cent, as compared to 2.3 per cent rise in the S&P BSE Sensex.

Last month, National Company Law Tribunal (NCLT) approved Tega's Resolution Plan for the acquisition of McNally Sayaji Engineering through Corporate Insolvency Resolution Process (CIRP)

CLOSING BELL: The key benchmark indices ended lower for the seventh straight trading day. The Sensex has shed 2,032 points, while the Nifty 50 has declined 643 points in this period.

Data Patterns is likely to witness a bumper listing, with Grey Market Premium (GMP) indicating a likely 45-50 per cent premium to its issue price.

FSN E-Commerce Ventures (Nykaa), PB Fintech, the parent company of Policybazaar, Tega Industries, Tarsons Products and Aditya Birla AMC were among 11 stocks from the BSE IPO index hit new lows.

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Despite the 3-day fall, the stock continues to command a 33 per cent premium over its issue price of Rs 453 per share

The stock was listed at Rs 760, a 68 per cent over its issue price of Rs 453 per share on the National Stock Exchange.

The BSE Midcap index was down 0.5 per cent, while the Smallcap index was up 0.2 per cent

At the top end, the company is valued at about 22 times its financial year 2020-21 (FY21) earnings

Retail portion subscribed 29 times, HNI 666 times and institutional investor 216 times

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The broader indices, however, outperformed the key benchmark indices. The BSE Midcap index ended flat, while Smallcap index was up 0.3 per cent

Anand Rathi Wealth IPO subscribed 1.5 times on opening day

Price band Rs 443-453 per share. At the top-end, company is valued at about 22x it FY21 earnings and will have a market cap of Rs 3,000 cr