How were the final subscription numbers for Tega Industries IPO?

The subscription has been among the best seen in recent times. The issue closed on 03 December getting application for 20,958.70 lakh shares out of the 95.69 lakh shares on offer in the IPO. This implies an overall subscription of 219.04 times which puts it in the top percentile of successful IPOs. The response was dominated by the HNIs followed by the QIB investors. Even retail response was pretty strong as we shall see later.

Let us first talk about the QIB portion. The QIB portion was already reduced by Rs.185.77 crore after Tega did an anchor placement of 41,00,842 shares at Rs.453, which happens to be the upper end of the price band. Even net of anchor, the QIB portion of 27.34 lakh shares got bids for a total of 5,890.17 lakh shares which essentially implies 215.45X subscription by the QIBs at the close the issue of Tega Industries, with bulk coming on the last day.

Let us finally turn to the HNI and the retail portion. The icing on the cake was the HNI portion which got subscribed a huge 666.19 times. It actually HNI applications for 13,659.79 lakh shares against the available quota of 20.50 lakh shares with most response coming on the last day. The retail portion was subscribed 29.44 times as it got valid bids for 1,408.73 lakh shares at close of the issue against an available quota of 47.84 lakh shares on offer.