Public Market

IPO

Mining industry consumables maker Tega files DRHP papers

Business Line  

Tega Industries, a manufacturer of consumables for the mining industry, has filed draft papers with capital markets regulator Sebi to mop up funds through an initial share sale. The initial public offering (IPO) is purely an offer of sale for 1,36,69,478 equity shares by promoters and an existing shareholder. As a part of the offer for sale, promoters Madan Mohan Mohanka will offload 33.14 lakh equity shares and Manish Mohanka will sell 6.63 lakh shares. In addition, Wagner, an affiliate of the US-based private equity firm TA Associates, will offload 96.92 lakh equity shares through the offer for sale. The Kolkata-based Tega Industries offers solutions to global clients in the mineral beneficiation, mining and bulk solids handling industry through its wide product portfolio. Axis Capital and JM Financial have been appointed as merchant bankers to advise the company on the public issue.

From the Venture Intelligence PE-VC Deal Database: In May-11, TA Associates had invested USD 40 million in Tega Industries (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)