Tega Industries IPO GMP- All You Need To Know Before Subscribing | Buy Or Not
Tega Industry Introduction : Incorporated in 1976, Tega Industries (Tega) is a leading manufacturer and distributor of specialized mining equipment components. Its products are used over different stages of mineral processing and material handling. In FY21, it obtained about 86% revenue from outside India. It has six manufacturing sites with three in India and the other three strategically located in Chile, South Africa and Australia.
Table of Contents
- 1 Key highlights for Tega Industries IPO
- 2 Tega Industries IPO GMP
- 3 Tega Industries IPO Price
- 4 Tega Industry IPO Date
- 5 Tega Industries IPO – Allotment, Lot Size, Price
- 6 Tega Industries IPO GMP Timeline
- 7 IPO Registrar Information (RTA) of Tega Industries Initial Public Offering
- 8 Tega Industries Financial Information
- 9 Strengths of Tega Industries
- 10 Opportunities with Tega Industries IPO
- 11 Risks With Tega Industries IPO
- 12 Related Search Terms for Tega Industries IPO
Key highlights for Tega Industries IPO
- Tega Industries manufactures specialized mining equipment components such as grinding mill liners, gutters, pump parts, conveyor belts, etc., which are used in mineral processing.
- Its product portfolio consists of more than 55 such mineral processing and material handling products
- These components are critical to Tega’s customers as they not only help to improve the operational efficiency of the mineral processing, but also to reduce the downtime.
- Furthermore, as these products wear and tear over time, it helps to generate recurring revenue
- Tega is the second largest manufacturer of polymer-based mill liners worldwide. In 2020, it had a 5% market share in the overall global milling market, compared to 3% in 2018.
- In Fiscal 2021, it obtained about 86% of its revenue from outside India. His order book, as of June 2021, stood at ₹ 316 crore, about 40% of his FY21 revenue.
- Meanwhile, the large international income base Tega is exposed to geo-political risks and currency fluctuations.
- Tega has a strong outreach with 18 global and 14 local sales offices. It had at the end of fiscal 2021 present at 513 installation sites in more than 70 countries
- The mill line market is expected to grow at around 6% CAGR between 2020 and 2030 to around $ 3 billion (or ₹ 22,500 crore). Compared to its global counterparts, Tega is the most efficient player in terms of EBITDA margins as well as return on capital.
- The company started its operations in India in 1978 in collaboration with Skega AB, Sweden
Tega Industries IPO GMP
According to Market Observers, the Share Premium (GMP) of Tega Industries rose to Rs.310 in the gray market today. The company’s shares are expected to be listed on the major stock exchanges NSE and BSE on 13 December 2021.
Tega Industries IPO, a company that manufactures products for the mining industry, is fully supply-for-sale (OFS), that is, thereby preparing the promoters of the company to raise 619.23 crores by their 1, 36,69,478 equity shares for sale.
Under the offer to buy, promoter Madan Mohan Mohanka will sell 33.14 lakh shares and Manish Mohanka 6.63 lakh shares. In addition, Wagner, a subsidiary of US-based private equity firm TA Associates, will sell 96.92 lakh of equity shares through OFS to sell. Axis Capital and JM Financial are the general managers of the issue.
Tega Industries IPO Price
The price group of the IPO is set at Rs 443 to Rs 453 per share
Tega Industry IPO Date
The company’s shares will get listed on the major stock exchanges NSE and BSE on 13 December 2021.
Kolkata-based Tega Industries, through its large product portfolio, offers solutions to global clients in the mineral refining, mining and bulk solids industry. Its net profit for FY 2021 stood at Rs 65 crore compared to Rs 136 crore last year. While total revenue for the period increased to Rs 856 crore compared to Rs 695 crore a year ago.
The firm has 6 manufacturing sites, three at Dahej in Gujarat in India and Samali and Kalyani in West Bengal, while three sites in major mining centers in Chile, South Africa and Australia, with a total built-up area of 74,255 square meters. Huh.
Tega Industries IPO – Allotment, Lot Size, Price
- Price band: ₹ 443– ₹ 453 per share
- Cost per lot: ₹ 14 949
- Lot Size: 33 shares
- IPO size: ₹ 619 crore
- Fresh edition: NA
- Offer for sale: ₹ 619 crore
Tega Industries IPO GMP Timeline
- Start date: 1 December 2021
- End date: 3 December 2021
- Provisional grant date: 8 December 2021
- Provisional repayment credit: 9 December 2021
- Provisional share credit in Demat: 10 December 2021
- Expected listing date: 13 December 2021
IPO Registrar Information (RTA) of Tega Industries Initial Public Offering
- Registrar of Offers: Call Intime India Private Limited
- Contact person: Shanti Gopalkrishnan
- Contact: +91 22 4918 6200
- Email: tega.ipo@linkintime.co.in
Tega Industries Financial Information
Strengths of Tega Industries
- Tega products are integral and critical to keeping its customers operating. Furthermore, their wear and tear creates replacement demand. Therefore, it is in a lovely place. It not only has long lasting relationships with its customers but also gets recurring revenue from them. Over the past three financial years, its recurring revenue has been about 75%.
- It gets more than 60% of the revenue from gold and copper ore processing sites, which have different demand cycles. Furthermore, since its products meet the after-market or replacement demand, it is isolated from mining capital cycles.
- It also has a geographically diversified income base with equal to or less than 20% of income coming from each of these regions – North America, South America, EMER (Europe, Middle East and Russia), Africa and Asia Pacific .
- Similarly, its top 10 customers make up less than 30% of total revenue, which is an indication of customer diversification.
- Among its global counterparts, it was one of the most efficient players with EBITDA margins of around 28% and return on capital utilized of around 24% in FY21.
Opportunities with Tega Industries IPO
- Tega’s focus areas viz. gold and copper ore processing make up 75% of the mill line market. This market is expected to grow at 6% CAGR to $ 3 billion (or 50022,500 crore) between 2020 and 2030.
- Tega is not only operationally efficient compared to its peers, but was also able to increase its market share from 3% to 5% between 2018 and 2020. This indicates greater product acceptance and ability to grow faster than the industry.
- Its six manufacturing sites – three in India and another three in Chile, South Africa and Australia – are strategically positioned in key mining belts to leverage the growth of its existing and new customers.
- Interestingly, the quality of copper ore grades is declining. Consequently, more mining material has to be processed to get the same amount of ore. As a result, miners are expected to process more ore to obtain the desired yield, which is expected to increase demand for Tega and its counterparts’ products.
Risks With Tega Industries IPO
- Although it has a diversified income base, almost 85% of it comes from outside India. This exposes it to geo-political risks and currency fluctuations.
- Any failure to expand or effectively manage a large production and distribution network can hamper business and revenue.
- Meanwhile, the loss of a long-term marquee tent client (s) can lead to loss of business in an industry, which has high barriers to entry.
Tega Industries grant status will be available on or around December 8, 2021. The allotted shares will be credited to the demat account by December 10, 2021. We will provide you with the link to check the status of the award as soon as the registrar makes it live. This can happen after the IPO is closed (after December 3, 2021).
In order to invest, you need to have DEMAT Account.
You can invest in through various apps – zerodha, 5paisa, upstox etc
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