Shares of Tega Industries made a strong debut on the share market, garnering over 62 per cent premium during the listing on Monday. The share rose from an issue price of Rs 453 to Rs 760 per piece on the NSE.
The company had successfully completed its Initial Public Offering of Rs 619 crore which got a bumper response through huge demand and got subscribed by 219 times.
Established in 1976, the company is a global leader and manufacturer of specialized ‘critical to operate’ and recurring consumable products for the global mineral beneficiation, mining and bulk solids handling industry. The company has been maintaining its financials healthy while it posted a profit of Rs 273.56 crores in FY 2020-21 as compared to a profit of Rs 64.47 crores in FY 2019-20.
According to SPTulisan.com, “While Tega is a small player with a lower margin, it is a growing business with a similar return ratio at a lower valuation. The company’s revenue growth with margin expansion and better fundamentals vis-a-vis AIA engineering make it and apply with a medium to long term view.”
