Shardul Amarchand Mangaldas & Co. advises on the initial public offering by Tega Industries Limited (“Company”) aggregating to ₹6,192.27 million (approx.US$ 81.84 million)

December 22, 2021

Shardul Amarchand Mangaldas & Co. advised Tega Industries Limited on its initial public offering (“IPO”), aggregating to ₹6,192.27 million (approx.US$ 81.84 million), comprising an offer for sale by the investor selling shareholder, Wagner Limited (TA Associates) and the promoter selling shareholders, Madan Mohan Mohanka and Manish Mohanka. Each of the selling shareholders were also advised by us. The date of transferring the equity shares was 8 December 2021 and the date of listing them on the BSE and NSE was 13 November 2021.

The IPO is the third most subscribed IPO in 2021 and the sixth most subscribed IPO in India. The Equity Shares of the Company were listed at a premium of around 68%.

The capital market team was led by Prashant Gupta, Partner and National Practice Head; Monal Mukherjee, Partner; Mubashshir Sarshar, Principal Associate; Sanjana Chowdhry, Senior Associate and Jayant Bhardwaj, Associate.

IndusLaw advised the Book Running Lead Managers, Axis Capital Limited and JM Financial Limited as to Indian law and Dentons acted as their special legal counsel.