Tega Industries IPO subscribed 4.7 times on Day-1 on retail interest

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

The IPO of Tega Industries was subscribed 4.7 times on Wednesday, the first day of the issue. The retail portion of the IPO was subscribed 7.5 times and the wealthy investor portion 4.2 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 to Rs 453 per share. At the top-end, the company is valued at about 22 times it FY21 earnings and will have a market cap of Rs 3,000 crore.

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