Tega Industries IPO: Check GMP, price band, subscription status, and should you invest?

With its IPO, Tega Industries is planning to raise about Rs 619.22-crore. The issue will be open for public subscription from December 1 for three days till December 3. 

So far, the company has received bids for  1,01,82,315 shares against 95,68,636 shares on offer, translating into a 1.06x subscription. According to the NSE data, Retail Individual Investors (RIIs) have subscribed to the offer 2.10 times while non-institutional investors subscribed 7%.

Tega Industries IPO comprises up to 1,36,69,478 equity shares. The company has set a price range of Rs 443-453 per share for the initial offer.

Tega Industries IPO shares are expected to list at Rs 828, with a listing gain of about 82.78%. The grey market premium (GMP) per share is about Rs 375, as of today (December 1). 

Axis Capital and JM Financial are managing the initial public offer of Tega Industries. The shares of the company will be listed on both BSE and NSE.