TEGA INDUSTRIES LIMITED IPO – Dec 1 to Dec 3

EspressoLogy

TEGA INDUSTRIES LIMITED IPO – Dec 1 to Dec 3

November 29, 2021
TEGA INDUSTRIES LIMITED IPO – Dec 1 to Dec 3

TEGA INDUSTRIES LIMITED is coming out with a fresh public issue to raise Rs 619.23 crores from the market.

Key details of the issue:

  • Issue opens – Dec 1(Wednesday)
  • Issue closes – Dec 3 (Friday)
  • Issue size – Rs 619.23 crores
  • Price band – Rs 443 to 453 per equity share
  • Bid lot – 33 shares and in multiples thereof

And here are some details of the company and further details on the TEGA INDUSTRIES LIMITED issue.

Company details:

·       Tega Industries Limited 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, on the basis of sales as of June 30, 2021 (Source: F&S Report). Globally, they are the second largest producers of polymer-based mill liners, on the basis of revenues as of June 30, 2021 (Source: F&S Report).

·       They offer comprehensive solutions to marquee global clients in the mineral beneficiation, mining and bulk solids handling industry, through their wide product portfolio of specialized abrasion and wear-resistant rubber, polyurethane, steel and ceramic based lining components, used by their customers 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, which are regular operating expenses for their customers.

·       Their engineering capability, which has evolved over decades, has enabled them to consistently offer their quality, complex manufactured products within stipulated timelines, allowing them to reduce downtime and maximize operational efficiency for their customers, and forge robust relationships with their customers leading to high recurring revenues.

·       They commenced operations in 1978 in India, with a foreign collobaration with Skega AB, Sweden.

·       Their product portfolio comprises more than 55 mineral processing and material handling products. As an average of the last three Fiscals i.e., 2021, 2020 and 2019, sale of products constitutes 95.08% of their revenue from operations, while their sale of services and other operating revenue constitutes 2.15% and 2.77%, respectively of their revenue from operations. For the three months period ended June 30, 2021, the sale of products constitutes 94.56% of their revenue from operations, while the sale of services and other operating revenue constitutes 3.33% and 2.11%, respectively of their revenue from operations.

·       They have six manufacturing sites, including three in India, at Dahej in Gujarat and at Samali and Kalyani in West Bengal, and three sites in major mining hubs of Chile, South Africa and Australia, with a total built-up area of 74,255 Sq. mts. Their facilities in India caters to the domestic and overseas markets across mineral processing and materials handling industries, while their facilities in Chile, South Africa and Australia caters to their respective local and regional mineral processing and materials handling industries. Additionally, their joint venture in India with U.K. branch of Hosch Group, Germany is engaged in precision conveyer belt cleaning and caters to various industries in India. They also have 18 global and 14 domestic sales offices located close to their key customers and mining sites.


 Issue size: Rs 619.23 crores



 Issue break-up:

  • QIB – 50% of the offer – Rs 309.61 crores
  • NIB – 15% of the offer – Rs 92.88 crores
  • RET – 35% of the offer – Rs 216.74 crores

Listing: NSE and BSE

Registrar: Link Intime India Private Limited      

UPI: All retail applications through brokers are compulsorily in UPI mode

Not an Espresso customer, but still want to apply for the TEGA INDUSTRIES LIMITED IPO? Become an Espresso customer in just 15 mins* by tapping here and take it from there! (* T&C apply)

Team Espresso
by Team Espresso

We care that you succeed

Bringing readers the latest happenings from the world of Trading and Investments specifically and Finance in general.