Tega Industries Limited | Tega Industries Wiki.

Tega Industries Limited is India’s leading manufacturer and distributor of specialized mining equipment components. The company was started in 1976 by Madan Mohanka, headquartered in Kolkata, West Bengal. It provides customized solutions for mining, minerals beneficiation, bulk material handling, and slurry transportation industries.

History 

Tega Industries was incorporated in 1976, an initial stage of the company prompted by a technical and financial collaboration with Skega AB and later fully acquired by the Mohanka family in 1998.

In 1978, the Tega industry came up with the first manufacturing facility at Kalyani, and later another manufacturing facility was established at Samali, Kolkata city.

In 2006, The company launched its manufacturing operations in South Africa and also acquired Australia and Chile-based industries, starting operations in 2011.

In 2014, Tega industries started a third manufacturing facility at Dahej MIDC, Gujarat under a special economic zone.

Products and solutions

Tega industries offer consulting services, product manufacturing, and on-site support to its customers for conveyor belts, cleaners, mill inner lining, trommel structure, hydro cyclone system, pump, liner for slurry transportation, etc. The company products portfolio includes wearing resistance rubber, polyurethane, steel, and ceramic-based lining components. Its products portfolio companies with more than 55 mineral processing and materials handling products.

Tega industries have six manufacturing plants, including three in India, at Samali and Kalyani in West Bengal, and Dahej GIDC in Gujarat. The remaining three facilities are in Chile, South Africa, and Australia with a built-up area of 74255 sq. mt. In the last three fiscal years, the company had a presence in 513 installation sites in over 70 countries with 18 Global and 14 domestic sales offices.

Acquisition and Merger

• In 1991, Tega industries formed a joint venture with Bosch equipment limited.
• In 2006, the company acquired South Africa-based Beruc equipment for manufacturing and distribution of grinding mill liners.
• In Jan 2011, Tega made another acquisition of Australia-based fabrication and distribution of wear resistance liners.
• In Feb 2011, Tega industries acquired two companies, Acotes S.A is a manufacturer of slurry transportation, pump, and wear products.
• Edoctum S.A is market-leading in Peru and Chile with ownership of belt, removal, pump tech, prevention, flotation, etc.

IPO Details

Tega Industries Ltd plans to raise Rs 1240 Cr from the public offering, it’s IPO comprises a fresh issue worth Rs 619.23 Cr and an offer for sale worth Rs 619.23 Cr. The IPO open date is 1 Dec 2021 and the closing date is 3 Dec 2021. The allotment may be finalized on 8 Dec 2021.

Highlights

• World’s largest producer of polymer-based mill liners.
• In-house manufacturing facilities and R&D.
• Global customer-based network, and sales compatibility.
• Experience management team support from different geography.
• Continuous market growth and strong operational efficiency.

Updates

• The portion for qualified institutional buyers saw the highest ever subscription of 215.45 times at least in a decade. Non-institutional investors placed bids for 666.19 times the portion set aside for them. Retail investors submitted bids for 29.44 times their reserved portion (Mint).
• Market observers said that Tega Industries IPO GMP today is ₹350, which is ₹30 up from its yesterday’s grey market premium (GMP) of ₹320.
• Tega Industries had a bumper debut on the bourses on December 13 with a massive 67.77 percent premium on the listing. The opening price on the BSE was Rs 753 against an issue price of Rs 453 per share, while it was Rs 760 on the NSE.

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