CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

India’s Tega Industries fixes IPO float price; TA Associates arm to sell stake

By Vinu Lal

11:32, 26 November 2021

Silhouettes of workers in a mine
Photo: Shutterstock

Indian manufacturer of consumables for the mining industry Tega Industries has fixed a price band of INR443–INR453 ($5.91–$6.05) per share for its initial stake sale to the public, the company said in a stock exchange update listed on the Bombay Stock Exchange (BSE).

The initial public offering (IPO) will open for subscription on 1 December and could raise INR6.19bn at the upper end of the price band. The IPO is entirely an offer for sale (OFS) of up to 13.67 million shares by investors in the company. 

Tega Industries is a manufacturer and distributor of specialised critical material consumable products for the global mineral beneficiation, mining- and bulk solids-handling industry.

As of 30 June 2021, Tega Industries is the second-largest producer of polymer-based mill liners globally on the basis of its revenues, as stated in a quote from an F&S report in the filing papers.

Private equity partner to sell

Wagner Ltd (WGN), an affiliate of US-based private equity firm TA Associates, would offload up to 9.69 million shares through the OFS.

A number of individual investors would also be tendering their stakes, according to the red herring prospectus (RHP, or final papers) filed with the domestic regulator. 


1.10 Price
+0.040% 1D Chg, %
Long position overnight fee -0.0080%
Short position overnight fee -0.0002%
Overnight fee time 22:00 (UTC)
Spread 0.00006


0.66 Price
+0.210% 1D Chg, %
Long position overnight fee -0.0071%
Short position overnight fee -0.0011%
Overnight fee time 22:00 (UTC)
Spread 0.00006


148.45 Price
-0.210% 1D Chg, %
Long position overnight fee 0.0111%
Short position overnight fee -0.0194%
Overnight fee time 22:00 (UTC)
Spread 0.010


0.66 Price
+0.210% 1D Chg, %
Long position overnight fee -0.0071%
Short position overnight fee -0.0011%
Overnight fee time 22:00 (UTC)
Spread 0.00006

The public subscription for the IPO would close on 3 December, while the firm plans to list on exchanges on 13 December. The company will not receive any proceeds from the offer.


For the financial year 2021, the company’s net profit soared to INR1.36bn (£1.3m, $18.15m, €16m) from INR655m recorded a year ago. Its revenue from operations rose 17.62% to INR8.06bn in FY2021, primarily attributable to an increase in the sale of products, from INR6.85bn recorded in fiscal 2020, as the final papers showed.

The company is based out of the eastern city of Kolkata. It gets its maximum business from overseas markets including North America, South America, Europe, the Middle East and Russia, Africa and Asia Pacific. These markets contributed about 86.42% to its revenue in FY21.

Axis Capital and JM Financial are the managers to the issue.

Read more: Indian companies to rebound on demand revival, says Moody’s

Related topics

Rate this article

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 570.000+ traders worldwide that chose to trade with

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading