Tega Industries IPO share allotment: Check status via BSE, Link Intime, grey market premium; listing on Dec 13

The company is expected to finalise the IPO allotment today (8 December), per the timeline provided in the red herring prospectus (RHP).

tega industries
Tega Industries shares, following an enthusiastic response to the IPO, were trading at a premium of Rs 325 in the grey market on Tuesday. (Photo source: Facebook/Tega Industries)

By Harshita Tyagi

Mining products manufacturer Tega Industries shares were trading in the grey market at a handsome premium of up to 80% over the issue price, after a massive oversubscription to the IPO last week. The company is expected to finalise the IPO allotment today (8 December), per the timeline provided in the red herring prospectus (RHP). Tega Industries IPO was subscribed 219 times. The price band for the public offer, which was open for subscription during 1 Dec-3 Dec, was Rs 443-453 per share. The IPO received bids for 209 crore shares as against the gross issue size of 95 lakh shares up for sale. Here are two ways to check the IPO share allotment status online:

Through BSE Website

  • Go to the official website of BSE
  • On the ‘Status of Issue Application’ page, click on the ‘Equity’ option
  • From the drop down menu beside the issue name, select the option ‘Tega Industries Limited’ and enter your application number
  • Fill in your Permanent Account Number or PAN and click on the Captcha that says ‘I am not a Robot’ and click on submit
  • The details of your allotment status of your bid will be displayed. The status will be visible only after the share allotment gets finalised.

Through Registrar’s Website (Link InTime India)

  • Go to the Link Intime India website and select ‘Tega Industries Ltd’ option from the drop-down list under ‘Company’.
  • Select either one of the three modes: Application number, Client ID or PAN ID
  • In application type, select between ASBA and non-ASBA and enter the details of the mode selected
  • Fill Captcha and enter ‘Submit’ option.
  • You will be able to see your allotment status, given that the process has been completed.

After allotment finalisation, unsuccessful investors will get the refunds in their bank accounts on or after December 9; while successful investors will get equity shares transferred to their demat accounts on December 10.

Tega Industries IPO Grey Market Premium

Tega Industries shares, following an enthusiastic response to the IPO, were trading at a premium of Rs 325 in the grey market on Tuesday. The share price premium went up to Rs 350, up 80 per cent from the IPO’s upper price band of Rs 453 on Tuesday, according to IPO Watch and IPO Central. The high GMP indicated a strong listing at BSE and NSE later this month.

Tega Industries IPO was oversubscribed 219 times. The public issue was subscribed 29.44 times in the retail category, 215.45 times in Qualified Institutional Buyers (QIB), and 666.19 times in the Non institutional buyers (NII) category by December 3. Shares are likely to debut on bourses on 13 December.

“Tega Industries is a leading producer of specialized and critical to operate products which is having high barriers to substitution, which give it a good moat. Tega Industries has shown excellent top-line and bottom-line and, IPO based on FY21 earnings looks reasonably priced. However, due to subdued market conditions lately, the GMP fell from a high of Rs 400 to Rs 325 level now. And, with 666 times the HNI Subscription, there are high chances of loss for leveraged HNIs. For retail clients, it will give very good returns,” said Umesh Paliwal, Co-founder of InvestorZone.

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