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Tega Industries has made a stellar stock market debut, with its equity shares listed at Rs 760, a 68 per cent premium over its issue price of Rs 453 per share on the National Stock Exchange (NSE). On the BSE, the stock opened at Rs 753, a 66 per cent higher versus its issue price, the exchange data showed.
Post listing, the stock hit a high of Rs 765 and a low of Rs 721 on the BSE. At 10:01 am, the stock was traded at Rs 751.80, a 66 per cent higher against the issue price. A combined 4.1 million shares changed hands at the counter on the NSE.
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The initial public offering (IPO) of Tega Industries had received a robust response from all category investors, with demand for shares exceeding those on offer by a whopping 219 times. Tega was the sixth most subscribed IPO in India, and it had received the third-highest subscription this year after Latent Views and Paras Defence, which garnered 339x and 304x subscriptions, respectively.
The retail portion of the IPO was subscribed 29 times, the wealthy investor portion 666 times, and the institutional investor portion 215 times. The offering of Tega Industries, a manufacturer of consumables for the mining industry, was entirely an offer for sale.
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