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Updated on: Monday, December 13, 2021, 05:19 PM IST

Tega Industries shares listed with huge premium; stocks zoom over 60% in debut trade

The shares debuted at Rs 753, reflecting a premium of 66.22 per cent from the issue price on BSE. / Representative Image |

The shares debuted at Rs 753, reflecting a premium of 66.22 per cent from the issue price on BSE. / Representative Image |

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Shares of Tega Industries Ltd, manufacturer of consumables for the mining industry, on Monday listed with a huge premium and settled over 60 per cent higher against its issue price of Rs 453.

It debuted at Rs 753, reflecting a premium of 66.22 per cent from the issue price on BSE. It further zoomed 69.33 per cent to Rs 767.10 during the day. The stock settled with a gain of 60.15 per cent at Rs 725.50.

On NSE, it listed at Rs 760, a gain of 67.77 per cent. The stock closed at Rs 718, jumping 58.49 per cent.

In volume terms, 10.84 lakh shares were traded on BSE and over 1.66 crore on NSE. The company commanded a market valuation of Rs 4,809.57 crore on BSE.

The initial public offer of Tega Industries received an overwhelming response from investors as it got subscribed a whopping 219.04 times on the last day of subscription on December 3.

The initial public offer had a price range of Rs 443-453 per share.

(With inputs from PTI)

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Published on: Monday, December 13, 2021, 05:19 PM IST
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