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Tega Industries IPO to open on December 1

The preliminary share-sale of Tega Industries, producer of consumables for the mining trade, will open for public subscription on December 1.

The three-day preliminary public providing (IPO) will conclude on December 3, in line with the purple herring prospectus (RHP).

The IPO is solely a proposal of sale of 1,36,69,478 fairness shares by promoters and an current shareholder. As part of the supply on the market, promoters Madan Mohan Mohanka will offload as much as 33.14 lakh fairness shares and Manish Mohanka will promote 6.63 lakh fairness shares. As well as, Wagner, an affiliate of the US-based personal fairness agency TA Associates, will offload 96.92 lakh fairness shares by the supply on the market.

Presently, promoter and promoter group maintain 85.17 per cent stake within the firm and Wagner owns 14.54 % shareholding.

The Kolkata-based Tega Industries gives complete options to marquee international shoppers within the mineral beneficiation, mining, and bulk solids dealing with trade, by its broad product portfolio.

Axis Capital and JM Monetary are the service provider bankers to the general public challenge. The shares of the corporate might be listed on each BSE and NSE.

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