Tega Industries has updated the pricing basis and utilization plan for its proposed preferential issue of equity shares, fixing the issue price at ₹1,994 per share.

The Kolkata-based industrial machinery manufacturer disclosed the details in a filing to stock exchanges on September 11, 2026, following a requirement letter from the National Stock Exchange of India Limited (NSE).

Utilization of Proceeds

The company plans to utilize a total of ₹95.40 crore from the issue. The majority of these funds will be directed toward deleveraging, with a specific timeline for deployment.

The allocation indicates a prioritization of balance sheet strengthening over operational expansion in the near term, with nearly 79% of the proceeds earmarked for debt reduction.

Pricing Basis

The issue price of ₹1,994 per share includes a premium of ₹1,984 over the face value of ₹10. This price is consistent with the valuation used in the company’s previous preferential issue in October 2025.

Under Regulation 164(1) of the SEBI (ICDR) Regulations, the minimum floor price was determined to be ₹1,705.11, based on the higher of:

• The 90 trading days volume weighted average price (VWAP) on NSE preceding the relevant date: ₹1,705.11
• The 10 trading days VWAP on NSE preceding the relevant date: ₹1,698.26

An independent registered valuer, Mr. Neeraj Kumar Sureka, determined a fair value of ₹1,635.94 per share under the company’s Articles of Association. The final issue price exceeds both the regulatory floor price and the independent fair value assessment.

What the Numbers Show

The decision to price the shares at ₹1,994, significantly above the SEBI-mandated floor of ₹1,705.11, suggests strong negotiation leverage with the proposed allottee or a strategic alignment with previous issuance terms. By matching the October 2025 issue price, Tega Industries maintains consistency in its capital raising strategy despite market fluctuations that set a lower regulatory benchmark.

Tega Industries updated its postal ballot notice on September 8, 2026, to clarify the identity of ultimate beneficial owners for proposed allottee AP Jupiter Holdings II Ltd. The clarification follows a specific requirement from the National Stock Exchange of India Limited regarding the company’s earlier communication dated August 22, 2026.

The update pertains to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that the information is provided in furtherance of its earlier filing and addresses the exchange's query directly.

Beneficial Ownership Structure

AP Jupiter Holdings II Ltd is categorized as a public allottee. It operates as an investing vehicle for funds managed or advised by affiliates of Apollo Global Management, Inc., which is listed on the New York Stock Exchange.

The disclosure specifies that no natural person holds more than 10% of the shares, capital, or profits of the proposed allottee. Furthermore, no individual exercises control over the entity. Consequently, the management and affairs are vested in its directors.

Under Regulation 163(1)(f) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, these directors are considered the ultimate beneficial owners for the purpose of this transaction.

Regulatory Compliance

All other contents of the postal ballot notice remain unchanged. The updated information is available on the company’s website. Manjuree Rai, Company Secretary and Compliance Officer, signed the communication.