India's Tega Industries surges in stock market debut

Tega Industries

13/12/2021 05:13

** Shares of mining equipment maker Tega Industries
 TEGA.NS  soar 68% in stock market debut
    ** TEGA stock opens at 760 rupees, compared with the offer
price of 453 rupees, valuing the firm at 10.39 bln rupees
($137.30 mln)
    ** Co's IPO of 13.7 mln shares includes an offer for sale of
3.3 mln shares 
    ** The offering was subscribed https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_pastissues_details.jsp?type=3&symbol=tega&Series=EQ
 more than 219 times at the end of the three-day bidding period
earlier this month
    ** Tega logged a restated profit of 1.36 bln rupees as of
March 31 vs a profit of 655.04 mln rupees for the previous year
    ** The firm makes and distributes specialized "critical to
operate" products for the global mineral beneficiation, mining
and bulk solids handling industry; it had 1,698 employees as of
June 30
    


    
    
($1 = 74.3050 Indian rupees)

 (Reporting by Chandini Monnappa in Bengaluru)
 ((Chandini.M@thomsonreuters.com; 910867497919;))