Tega Industries Limited which had tapped the capital markets with its offer for sale of 1,36,69,478 shares in a price band of Rs 443-453 received overwhelming support. The issue was subscribed 219.03 times. QIB portion was subscribed 215.45 times, HNI portion was subscribed 666.19 times and Retail portion was subscribed 29.44 times. There were 34.84 lac applications and on basis of lots the retail portion was subscribed 24.03 times.

The issue saw a new record level of subscription in the QIB portion and was the highest received in the decade. This beat the subscription received in HDFC AMC was at 196.26 times. The total subscription amount garnered by this issue was Rs 95,127 crs against an issue size of Rs 619.23 crs. The cost of funding is just under Rs 500 which means the share has to trade near the four-digit level if the leveraged HNI has to make money. This could be a tough task but one never knows.

Earlier the company had completed allocation to anchor investors. The issue had opened on Wednesday the 1st of December and closed on Friday the 3rd of December.

The company allotted 41,00,842 shares to 17 anchor investors comprising of 25 entities. Domestic mutual funds were allotted 25,77,661 shares to 8 entities. This comprised 62.86% of the anchor allocation.

The top allocation was made equally to two anchors, namely SBI Mutual Fund and Ashoka Fund who were allotted 5,73,936 shares or 14% of the anchor allocation. This was followed by an identical 7.54% or 3,09,045 shares to 7 anchor investors. This effectively meant that the top nine anchor investors were allotted 80.78% of the anchor book.

Full details of the subscription category wise are given below: –

Full details of the subscription are given below: –