Report Wire - Tega Industries IPO to open on December 1

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Tega Industries IPO to open on December 1

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Tega Industries IPO

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, based on the purple herring prospectus (RHP).
The IPO is only a suggestion 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. In addition, Wagner, an affiliate of the US-based personal fairness agency TA Associates, will offload 96.92 lakh fairness shares via the supply on the market.
Currently, promoter and promoter group maintain 85.17 per cent stake within the firm and Wagner owns 14.54 % shareholding.
The Kolkata-based Tega Industries affords complete options to marquee international purchasers within the mineral beneficiation, mining, and bulk solids dealing with trade, via its broad product portfolio.
Axis Capital and JM Financial are the service provider bankers to the general public problem. The shares of the corporate will likely be listed on each BSE and NSE.