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All that you should know about the Company before applying for the IPO.

November 29, 2021     

The public issue of equity shares of Tega Industries Limited will open for subscription on December 01, 2021 and closes on December 03, 2021 It is expected to list on the stock exchanges on December 13, 2021 What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analysis the IPO.

Company Profile

Incorporated in 1976, the company is a leading manufacturer and distributor of specialized ‘critical to operate’ and recurring consumable products for the global mineral beneficiation, mining and bulk solids handling industry. It is the second largest producers of polymer-based mill liners, globally. It offers comprehensive solutions to marquee global clients in the mineral beneficiation, mining and bulk solids handling industry, through its wide product portfolio of specialized abrasion and wear-resistant rubber, polyurethane, steel, and ceramic based lining components, which are used across different stages of mining and mineral processing, screening, grinding and material handling, including after-market spends on wear, spare parts, grinding media and power.

The company's product portfolio comprises more than 55 mineral processing and material handling products. The mineral processing and material handling products offering covers a wide range of solutions in the mining equipment, aggregates equipment and the mineral consumables industry. It has 6 manufacturing facilities, including three in India (Gujarat & West Bengal), and three facilities in major mining hubs of Chile, South Africa, and Australia.

In India it caters to the domestic and overseas markets across mineral processing and materials handling industries, while the facilities in Chile, South Africa and Australia caters to the respective local and regional mineral processing and materials handling industries. It also has 18 global and 14 domestic sales offices located close to its key customers and mining sites.

Who are the Promoters of the Company?

Madan Mohan Mohanka, Manju Mohanka, Manish Mohanka, Mehul Mohanka, and Nihal Fiscal Services Private Limited

Positives about the Company

  • A leading producer of specialized and "critical to operate" products, with high barriers to replacement or substitution.
  • Insulated from mining capex cycles, as its products cater to after-market spends, providing recurring revenues.
  • High value add and technology intensive products, backed by strong R&D and focus on quality control.
  • Long standing market player with marquee global customer base and strong global manufacturing and sales capabilities.
  • Consistent growth, characterized by operational efficiency and high repeat business.
  • Experienced management team supported by large, diverse, and skilled work force.

Who are its key competitors?

AIA Engineering Limited

Why is the Company going public?

Given below are the objectives of the Company –

The Offer is a 100% Offer for Sale issue. The Company will not receive any proceeds from the Offer for Sale and all proceeds from the Offer will go to the Selling Shareholders.

  • To enhance visibility and brand and provide liquidity to its existing Shareholders.
  • To provide a public market for the Equity Shares in India.


IPO Details

IPO Size ₹ 619.23 Crore*
Offer Mix 100% Offer For Sale
Price Band ₹ 433 - ₹ 453
Lot Size 33 Shares (& in multiples thereof)
Face Value ₹ 10
Application Amount Min. ₹ 14,949 (1 lot) | Max. ₹ 1,94,337 (13 lots) [at upper price band]
Listing on NSE & BSE
Registrar Link Intime India Private Limited
Cut-off time for UPI Mandate Confirmation 06-Dec-2021 (up to 12:00 PM)
* at upper price band

Category Wise Availability*

QIB ₹ 309.62 Crore
(50% of Issue Size)
NIB ₹ 92.88 Crore
(15% of Issue Size)
Retail ₹ 216.73 Crore
(35% of Issue Size)
* at upper price band

Indicative Issue Timeline

Activity Date
IPO Opens December 01, 2021
IPO Closes December 03, 2021
Finalization of the basis of allotment December 08, 2021
Unblocking of funds / Initiation of refunds December 09, 2021
Credit of equity shares to Demat accounts December 10, 2021
Listing of equity shares December 13, 2021
Source: Company RHP
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