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Tega Industries shares debut today;  What Gmp suggests before registration

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Tega Industries shares debut today; What Gmp suggests before registration

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Shares of Tega Industries are expected to debut on the market on Monday, December 13. Prior to listing day, Tega Industries, a specialty mining and metallurgical company based in Kolkata, secured a premium on the Gray Market, an unofficial market for unlisted ones. securities. Dealers said Tega Industries’ gray market premium (GMP) stood at Rs 300 on Monday, ahead of the aftermarket debut.

Tega Industries’ GMP reached Rs 410 during the IPO, according to IPO Watch.

Tega’s listing comes days after shares in Star Health and Allied Insurance Company, backed by investor as Rakesh Jhunjhunwala, recovered their initial losses after a weak start. Star Health shares reached up to Rs 940 each on the BSE and NSE exchanges on Friday, a 4.4% premium over the issue price, after listing at a discount of around 6%.

Most IPOs in the recent past have received a strong response from investors.

Tega Industries’ IPO, which was open for auction from Dec. 1-3, saw an aggregate subscription of 117 times, receiving bids for 112 crore of shares for the 95 lakh shares on offer. Shares of Tega Industries were available to bid in the price range of Rs 443-453 each as part of the IPO.

The portion reserved for retail investors was subscribed 25 times, and the categories of non-institutional investors and qualified institutional buyers were counted 405 times and 62 times, respectively.

The company is a manufacturer and distributor of specialty critical-to-use consumables. Its portfolio contains more than 55 products intended for consumers at different stages of mining and mineral processing.

Tega Industries shares debut today; What Gmp suggests before registration

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