Tega Industries IPO - Anchor Placement Details

Tega Industries IPO - Anchor Placement Details

by 5paisa Research Team Last Updated: 2021-11-30T22:24:48+05:30

The anchor placement issue of Tega Industries saw a robust response on 30-November and the announcement was made late on Tuesday.

The IPO opens on 01-December in the price band of Rs.443-453 and shall remain open for 3 days up to 03-December. Let us focus on the anchor allotment portion ahead of the IPO.

Before we go into the details of the actual anchor allotment, a quick word on the process of anchor placement.

The anchor placement ahead of an Tega Industries IPO is different from a pre-IPO placement in that the anchor allocation has a lock-in period of just one month.

It is just to give confidence to investors that the issue is backed by large established institutions. However, the anchor investor cannot be allotted shares at a discount.

Anchor placement story of Tega Industries

On 30-November, Tega Industries completed the bidding for its anchor allocation. There was a robust response, especially from domestic mutual funds, as the anchor investors participated through the process of book building.

A total of 41,00,842 shares were allotted to a total of 25 anchor investors. The allocation was done at the upper IPO price band of Rs.453 which resulted in an overall anchor allocation of Rs.185.77 crore.

Listed below are the 10 anchor investors who have been allotted more than 3.00%  of the anchor allocation each in the IPO.

It must be noted that we have considered at an individual fund level and not at an AMC level since domestic mutual funds accounted for 62.86% of the total anchor allocation across 19 schemes of 8 mutual fund AMCs.

Out of the total anchor allocation of Rs.185.77 crore, these 10 major anchor investor accounted for 65.7% of the overall anchor allocation.


Anchor Investor

No. of Shares

% of Anchor Portion

Value Allocated

Ashoka India Equity Fund



Rs.26.00 crore

SBI Large & Mid Cap Fund



Rs.18.50 crore

Goldman Sachs India Portfolio



Rs.14.00 crore

Aditya Birla Sun Life Small Cap Fund



Rs.14.00 crore

Mirae Asset Tax Saver Fund



Rs.14.00 crore

HDFC Hybrid Debt Fund



Rs.10.00 crore

Axis Capital Builder Fund



Rs.7.00 crore

Axis Equity Hybrid Fund



Rs.6.50 crore

Tata Infrastructure Fund



Rs.6.00 crore

Tata Multi Asset Opportunities



Rs.6.00 crore

Data Source: BSE Filings

With very strong signals coming from the GMP, the anchor response has been 30% of the total issue size. The QIB portion in the IPO will be reduced to the extent of the anchor placement done above.

Only the balance amount will be available for QIB allocation as part of the regular IPO flow.

One interesting inference one can draw is that, unlike the mega digital and other issues, the domestic mutual funds were predominant players accounting for 62.86% of the total anchor allocation.

More than 19 mutual fund schemes across 8 AMCs were allotted anchor shares in Tega Industries.

Some of the major global funds that participated in the anchor placement were Goldman Sachs India Portfolio, Ashoka India Fund, Kuber India Fund, Elara India Opportunities Fund and BNP Paribas Arbitrage Fund. The IPO of Tega Industries opens on 01st December.

Also Read:-

Upcoming IPOs in 2021

Upcoming IPOs in December 2021

Start Investing in 5 mins*

Get Benefits worth 2100* | Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Open Free Demat Account

& get benefits worth 2100*

Resend OTP
Please Enter OTP
  • Have Promo code?
  • Use code ACT2100
Enter Promo code

By proceeding, you agree to the T&C.

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number