Tega Industries IPO
Tega Industries IPO — date, price band, lot size & details 2021
Tega Industries listed on 13 Dec 2021 at ₹760, 67.8% above the ₹453 issue price.
Tega Industries makes specialised, recurring consumables for mineral beneficiation, mining and bulk solids handling, and is the second largest maker of polymer-based mill liners globally. Its total income was Rs 856.68 crore in FY2021.
Stock price
Tega Industries is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 01 Dec 2021
- Close 03 Dec 2021
- Allotment 08 Dec 2021
- Refund/credit 09 Dec 2021
- Listing 13 Dec 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 1 to 3 Dec, 2021 |
|---|---|
| Price Band | ₹443 – ₹453 |
| Face Value | ₹10 |
| Lot Size | 33 Shares |
| Issue Size | ₹619.23 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,949 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 33 shares at the ₹453 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 33 | ₹14,949 |
| Retail (max) | 13 | 429 | ₹1,94,337 |
| S-HNI (min) | 14 | 462 | ₹2,09,286 |
| S-HNI (max) | 66 | 2,178 | ₹9,86,634 |
| B-HNI (min) | 67 | 2,211 | ₹10,01,583 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 643.01 crore in FY2019 to Rs 856.68 crore in FY2021.
- 02Profit after tax rose from Rs 32.67 crore in FY2019 to Rs 136.41 crore in FY2021.
- 03Its products are recurring consumables, replaced regularly by mines, across more than 55 product types.
- 04Total borrowing fell from Rs 243.93 crore on 31 March 2020 to Rs 184.24 crore on 30 June 2021.
- 05The pre-issue P/E was 22.01 at the upper band of Rs 453, based on EPS of Rs 20.58.
Risks · 5
- 01The whole Rs 619.23 crore issue was offer for sale, so no money went to the company.
- 02Profit was only Rs 11.88 crore in the three months to 30 June 2021, on total income of Rs 179.39 crore.
- 03Demand depends on global mining activity and commodity cycles, and 3 of its 6 sites are abroad, which adds currency risk.
- 04EBITDA jumped from Rs 117.23 crore in FY2020 to Rs 238.64 crore in FY2021, and such a jump may not repeat.
- 05Promoters and the promoter group held 85.17% before the issue and 79.15% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Tega Industries offer document.
| Metric | 30 Jun 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|
| Assets | 1,056.17 | 1,018.34 | 887.32 | 790.27 |
| Total Income | 179.39 | 856.68 | 695.54 | 643.01 |
| Profit After Tax | 11.88 | 136.41 | 65.50 | 32.67 |
| EBITDA | 29.68 | 238.64 | 117.23 | 106.00 |
| NET Worth | 631.15 | 613.72 | 462.49 | 401.11 |
| Reserves and Surplus | 564.86 | 547.43 | 396.20 | 334.81 |
| Total Borrowing | 184.24 | 187.80 | 243.93 | 212.69 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Tega Industries RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Tega Industries IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹20.58 | ₹7.17 |
| P/E Ratio (x) | 22.01 | 63.18 |
| Market Cap at Offer Price (₹ Cr) | ₹261.50 | ₹750.58 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹453 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Tega Industries IPO will be updated shortly.
About the company
Its range covers abrasion and wear-resistant rubber, polyurethane, steel and ceramic lining components used in mineral processing, screening, grinding and material handling. It has more than 55 mineral processing and material handling products, and it was the second largest maker of polymer-based mill liners globally by revenue in 2020.
It has 6 manufacturing sites, 3 in India at Dahej in Gujarat and at Samali and Kalyani in West Bengal, and 3 in mining hubs in Chile, South Africa and Australia.
The IPO was Rs 619.23 crore and was entirely an offer for sale by promoters and investor Wagner Limited, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Tega Industries IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Tega Industries?
The current Grey Market Premium is ₹300, or 66% over the issue price.
What is the Tega Industries IPO price band?
₹443 to ₹453, on a face value of ₹10.
When is the allotment?
The basis of allotment is 8 December 2021, with listing on 13 December 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
