Tega Industries IPO subscribed 218 times: Check latest GMP, expected listing gains

Tega Industries IPO GMP and latest subscription status suggests that investors receiving bids against their offers can expect listing gains.

New Delhi: Tega Industries Limited’s initial public offer (IPO) received an overwhelming response from investors right from the day (December 1) one of subscription. And on day three (December 3) of subscription, the IPO was subscribed a whopping 218.91 times, raising the hopes of impressive listing gains. The final day subscription status and grey market premium (GMP) of Tega Industries IPO are now out. 

Tega Industries had fixed the price range of Rs 443-453 a share for its initial public offer. The IPO was fully subscribed within one hour of opening on Wednesday (December 1). The company also announced that it has raised Rs 186 crore from anchor investors.

Based in Kolkata, Tega Industries provides comprehensive solutions to marquee global clients in the mineral beneficiation, mining and bulk solids handling industry through its wide product portfolio, the report said. 

Tega Industries IPO Subscription Status 

Tega Industries IPO has so far received bids for 2,09,46,77,244 shares against 95,68,636 shares on offer, according to data with the exchanges till 16:18 hours, PTI reported. 

The non-institutional investor’s quota was subscribed 666.19 times while Qualified Institutional Buyers (QIBs) quota received 215.45 times subscription. Shares reserved for Retail Individual Investors (RIIs) were subscribed 29.20 times. The IPO is up to 1,36,69,478 equity shares. Also Read: Elon Musk sells Tesla shares worth $10 billion, will he remain the richest person in the world?

Tega Industries IPO GMP 

Tega Industries IPO’s grey market premium currently is Rs 410, which is about 90% of the initial share sale price. This means that investors who will receive the shares against their IPO bids could enjoy impressing listing gains from Tega Industries IPO. Also Read: Bank Fraud: 2 Companies cheat banks of Rs 70 crore, CBI files cases