Tega Industries IPO subscribed 219 times, generated bids worth Rs 95,000 cr

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

Tega Industries’ IPO saw 219 times more demand than shares on offer. The 9.6-million share offering generated bids worth nearly Rs 95,000 crore. The retail portion of the IPO was subscribed 29 times, the wealthy investor portion 666 times and institutional investor portion 216 times. Tega Industries is a manufacturer of consumables for the mining industry. Its IPO was entirely an offer for sale. The price band for the IPO is Rs443 to Rs 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