Tega Industries IPO subscribed 218.91 times so far on last day of subscription

 The initial public offer of Tega Industries Limited, manufacturer of consumables for the mining industry, received an overwhelming response from investors as it got subscribed a whopping 218.91 times so far on the last day of subscription on Friday.

The IPO received bids for 2,09,46,77,244 shares against 95,68,636 shares on offer, according to data with the exchanges till 16:18 hours.

The category for non institutional investors got subscribed 666.19 times, Qualified Institutional Buyers (QIBs) received 215.45 times subscription and Retail Individual Investors (RIIs) 29.20 times.

The initial public offer is up to 1,36,69,478 equity shares and is in a price range of Rs 443-453 a share.

The initial public offer of Tega Industries was fully subscribed within one hour of opening on Wednesday.

Tega Industries on Tuesday garnered Rs 186 crore from anchor investors.

Kolkata-based Tega Industries offers comprehensive solutions to marquee global clients in the mineral beneficiation, mining and bulk solids handling industry through its wide product portfolio.

Axis Capital Limited and JM Financial are the managers to the offer.

Shares of the company will be listed on both BSE and NSE.