Tega Industries is a major producer and retailer of specialist ‘critical to operate’ and recurring consumable solutions for the worldwide mineral beneficiation, mining, and bulk solids handling sectors on the basis of revenues for calendar year 2020.
Tega Industries is the world’s second-largest manufacturer of polymer-based mill liners, according to sales for calendar year 2020. Their broad product offering of specialised abrasion and wear-resistant rubber, polyurethane, steel, and ceramic based lining components. It is utilised by their clients throughout varying phases of mining and mineral processing, screening, grinding, and material handling. It provides broad options to marquee international customers in the mineral beneficiation, mining, and bulk solids handling industries.
Their engineering capabilities have developed over decades, allowing them to consistently offer our high-quality, complex manufactured items within specified timelines. It allowing them to reduce downtime and maximise operational efficiency for their clients, as well as forge strong relationships with them that lead to high recurring revenues. They began operations in India in 1978, with a foreign partnership with Skega AB of Sweden. Madan Mohan Mohanka purchased Skega AB’s complete equity stake share in their company in 2001. Mehul Mohanka (CEO & MD) has involved in the Company’s business from last 18 years. Wagner Ltd., a subsidiary of TA Associates, a worldwide private equity firm, provided them with funds in 2011.
More than 55 mineral processing and material handling products are present in their product portfolio. The sale of items accounts for 95.08 percent of total revenue from operations, on average, during the previous three fiscal years. In the mining, aggregates, and mineral consumables industries, their mineral processing and material handling product portfolio includes a broad number of solutions. Consumables for the mining and mineral processing industries are among the goods they serve. Chute liners, grinding mill liners, trommels and screens, hydrocyclones, pumps and flotation components, and conveyor items are among their offerings.
With a total built-up area of 74255 sq. mts, they have 6 production facilities, three in India, at Dahej in Gujarat and Samali and Kalyani in West Bengal, and three in significant mining centres of Chile, South Africa, and Australia. Their plants in India serve the domestic and international mineral processing and materials handling markets, whereas their facilities in Chile, South Africa, and Australia serve the national and regional mineral processing and materials handling sectors. In addition, their joint venture in India with the Hosch Group’s U.K. branch specialises in precision conveyer belt cleaning and serves a variety of sectors in India.
Competitive Strengths
- A leading producer of specialized and “critical to operating” products, with high barriers to replacement or substitution;
- Insulated from mining capex cycles, as their products cater to after-market spends, providing recurring revenues;
- High value add and technology-intensive products, backed by strong R&D and focus on quality control;
- The long standing market player with marquee global customer base and strong global manufacturing and sales capabilities;
- Consistent growth, characterized by operational efficiency and high repeat business; and
- Experienced management team supported by the large, diverse, and skilled workforce.
Company Promoters
- Madan Mohan Mohanka
- Manju Mohanka
- Manish Mohanka
- Mehul Mohanka
- NFSPL
Company Financial
| Particulars | For the year/period ended ( in Cr.) | |||
|---|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | ||
| Total Assets | 1,018.34 | 887.32 | 790.27 | |
| Total Revenue | 856.68 | 695.54 | 643.01 | |
| Profit After Tax | 136.41 | 65.50 | 32.67 |
Objects Of The Issue
- Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
- To meet common corporate objectives.
Tega Industries IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 2 | AIA Engineering Limited | 32.15 |
Tega Industries IPO Risk
- Their worldwide production plants, sales, and operations subject them to the concerns of doing business in foreign nations, which might have a negative impact on their operations.
- They rely on a few major suppliers for specific raw materials, but they don’t have long-term contracts or special partnerships with them.
- They’ve been unable to discover some of their company’s historical documents.
- Their inability to recognise and react to changing market trends, technology developments, and customer preferences might have a negative impact on their company.
- The bulk of their clients do not have long-term contracts with them.
- The impact of COVID-19 on their business is unknown and impossible to anticipate.
Other Threats
- Their Company, Promoters, and Directors are involved in legal procedures, and a negative decision in any of these proceedings might have a negative impact on their company.
- Their Joint Venture may fail to meet its commitments, and its interests may vary from ours, resulting in a negative impact on their company.
- Several of our subsidiaries have lost money in the past and may lose money in the future.
- Failure to acquire or renew required regulatory approvals, licences, or permits in a timely or timely way, or at all, may have a negative impact on their business.
- They may be subject to stricter labour laws or other industry norms, which might raise their compliance costs and have a negative impact on their business.
Tega Industries IPO – Details
| IPO Opening Date | 01 December 2021 |
| IPO Closing Date | 03 December 2021 |
| Issue Type | Book Built Issue IPO |
| Issue Size | ₹619.23 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹443 To ₹453 Per Equity Share |
| Market Lot | 33 Shares (1 Lot) |
| Min Order | 33 Shares |
| Listing At | BSE, NSE |
| Register | LinkInTime India Private Ltd |
Tega Industries IPO – Date Schedule
| IPO Open Date | 01 December 2021 |
| IPO Close Date | 03 December 2021 |
| Basis of Allotment Date | 08 December 2021 |
| Initiation of Refunds | 09 December 2021 |
| Credit of Shares to Demat Account | 10 December 2021 |
| IPO Listing Date | 13 December 2021 |
Tega Industries IPO – Lots Size & Price
| Application | Lots | Shares | Amount ( Cut-Off) |
| Minimum | 1 | 33 | ₹14,949 |
| Maximum | 13 | 429 | ₹1,94,337 |
Promoter Holding
| Pre Issue Share Holding | 85.17% |
| Post Issue Share Holding | 79.17% |
Tega Industries IPO Prospectus
Company Contact Information
| Tega Industries Limited 147, Block-G, New Alipore, Kolkata 700 053, West Bengal, India Tel: +91 33 3001 9000 E-mail: compliance.officer@tegaindustries.com Website: www.tegaindustries.com |
Tega Industries IPO Registrar
| Link Intime India Private Limited C-101, 1st Floor, 247 Park L.B.S. Marg, Vikhroli West, Mumbai 400 083 Maharashtra, India Tel: +91 22 4918 6200 E-mail: tega.ipo@linkintime.co.in Website: www.linkintime.co.in |
Tega Industries IPO Lead Manager(s)
| 1. Axis Capital Limited 2. JM Financial Limited |
Tega Industries IPO FAQs
| When Tega Industries IPO will open? The Tega Industries IPO dates are 01 December 2021 To 03 December 2021. |
| What is the lot size of Tega Industries IPO? Tega Industries IPO lot size is 33 and the minimum order is ₹14,949. |
| How to apply for Tega Industries IPO? You can apply in Tega Industries IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. |
| When is Tega Industries IPO listing date? The Tega Industries IPO listing date is announced. The date of Tega Industries IPO listing is 13 December 2021. |
