Tega Industries IPO:Tega Industries has filed papers (DRHP) with SEBI for its proposed IPO. According to sources, this IPO can be of 700 to 750 crores.
The public offer of 1,36,69,478 equity shares under this IPO will be purely offer for sale. In which the shareholders will sell their stake. Under this offer, promoters of the company Madan Mohan Mohanka will sell 33,14,657 equity shares and Manish Mohanka will sell 6,62,931 equity shares.
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In addition, US-based private equity firm TA Associates, a related company and investor Wagner, will sell its entire stake of 96,91,890 equity shares in the company. Let us tell you that Wagner had invested in the company in the year 2011.
Tega Industries provides a wide range of services to global mineral mining companies, including screening, grinding and material handling. In terms of revenue, the company was the second largest company in the world for polymer based mill liners in the year 2020. The company started business in India in 1978. The business was started in partnership with Swedish firm Skega AB. Madan Mohan Mohanka had bought out Skega AB’s entire stake in the company in 2001.
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Madan Mohanka, Manju Mohanka, Manish Mohanka and Mehul Mohanka are part of its promoter group. Mehul Mohanka is the MD and CEO of the company and has been associated with the company for the last 18 years. The company’s product portfolio includes over 55 mineral processing and material handling products.
Axis Capital and JM Financial are the book running lead managers of this IPO.
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