Tega Industries IPO subscribed 218 times: Check latest GMP, expected listing gains

Tega Industries IPO GMP and latest subscription status suggests that investors receiving bids against their offers can expect listing gains. 

New Delhi: Tega Industries Limited’s initial public offer (IPO) received an overwhelming response from investors right from the day (December 1) one of subscription. And on day three (December 3) of subscription, the IPO was subscribed a whopping 218.91 times, raising the hopes of impressive listing gains. The final day subscription status and grey market premium (GMP) of Tega Industries IPO are now out. 

Tega Industries had fixed the price range of Rs 443-453 a share for its initial public offer. The IPO was fully subscribed within one hour of opening on Wednesday (December 1). The company also announced that it has raised Rs 186 crore from anchor investors.

Based in Kolkata, Tega Industries provides comprehensive solutions to marquee global clients in the mineral beneficiation, mining and bulk solids handling industry through its wide product portfolio, the report said.