Tega Industries makes blockbuster debut; shares trade 66% above listed IPO price

The Kolkata-based firm drew an overwhelming response as it got subscribed 219.04 times on the last day of subscription on December 3, after it opened for the bidding on December 1. T

Tega Industries made a blockbuster debut on stock exchanges on Monday as its shares were trading at ₹753 per share above the listed IPO price of ₹453 per share after it opened for retail investment.

The Kolkata-based firm drew an overwhelming response as it got subscribed 219.04 times on the last day of subscription on December 3, after it opened for the bidding on December 1. T (Representative Photo)

Tega Industries IPO reflected a premium of 66.22 per cent from the issue price on BSE. It further zoomed 69.33 per cent to ₹767.10. On the National Stock Exchange (NSE), it listed at ₹760, a gain of 67.77 per cent.

The Kolkata-based firm drew an overwhelming response as it got subscribed 219.04 times on the last day of subscription on December 3, after it opened for the bidding on December 1. The initial public offer had a price range of ₹443-453 a share.

Tega Industries IPO received bids for 2,09,58,69,600 shares against 95,68,636 shares on offer, data with the exchanges showed.

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) 29.44 times.

(With agency inputs)