Tega Industries makes market debut at 68% premium

Mumbai: Tega Industries made a stellar debut at the stock exchange on Monday. Its share got listed at the National Stock Exchange (NSE) at Rs. 760, which is 68 per cent premium over its issue price of Rs. 453 per share.

At the Bombay Stock Exchange (BSE) the share got listed at Rs.753, which is 66 per cent higher than its issue price. The Initial Public Offering (IPO) of Tega Industries had also received a robust response from all categories.

It was oversubscribed 219 times.Kolkata-headquartered Tega Industries is a manufacturer and distributor of specialised, critical, and recurring consumable products for the global mineral beneficiation, mining, and bulk solids handling industry.

Globally, Tega Industries is the second-largest producer of polymer-based mill liners.At the National Stock Exchange, the share of Tega Industries got listed at Rs. 760 and touched a high of Rs. 767.70 in early trade.At the Bombay Stock Exchange, the stock got listed at Rs. 753, which was lower than the level at the NSE.

However, the stock surged to a high of Rs. 767.10 at the BSE, which was close to the high achieved at the NSE.