Tega Industries Limited has announced significant changes to its proposed preferential issue and upcoming Extraordinary General Meeting (EGM), as approved by its Board of Directors on September 26, 2025.

Modifications to Preferential Issue Allottees

The company has made alterations to the list of proposed allottees for its preferential issue, which maintains its total value at INR 2000.60 crores. The key change involves replacing 360 One Mutual Fund with four entities from the same group:

1. Turnaround Opportunities Fund
2. 360 One High Growth Companies Fund
3. High Conviction Fund - Series 1
4. 360 One Equity Opportunity Fund

This modification keeps the aggregate application size for the 360 One Group unchanged at INR 50.00 crores. The preferential issue continues to include a total of 85 allottees across promoter, promoter group, and public categories.

Preferential Issue Details

The preferential issue involves the issuance of 1,00,33,090 equity shares. Here's a breakdown of some key allottees and their respective allocations:

EGM Mode Change

In light of the recent General Circular No. 03/2025 issued by the Ministry of Corporate Affairs (MCA), Tega Industries has decided to change the mode of its upcoming EGM. Originally scheduled as a physical meeting, the EGM will now be held virtually through video conferencing (VC) or other audio-visual means (OAVM). The date and time remain unchanged:

• Date: Friday, October 10, 2025
• Time: 11:00 A.M. (IST)

This decision follows the MCA's extension of the timeframe for holding Annual General Meetings (AGMs) and EGMs through virtual means beyond September 30, 2025.

Additional Corporate Updates

The company also announced the closure of the trading window for designated persons and their immediate relatives from October 1, 2025. This closure will remain in effect until 48 hours after the declaration of Unaudited Financial Results for the quarter and half-year ending September 30, 2025.

Tega Industries continues to demonstrate its commitment to regulatory compliance and shareholder engagement through these updates. The company will issue a corrigendum to shareholders regarding the EGM mode change and the revised list of preferential issue allottees.

Investors and stakeholders are advised to refer to the official communications from Tega Industries for the most accurate and up-to-date information regarding these corporate actions.

Tega Industries , a leading manufacturer of specialized 'critical to operate' and recurring consumable products for the global mineral beneficiation, mining, and bulk solids handling industry, has successfully completed a significant fundraising round, attracting investments from prominent institutional and individual investors.

Major Fundraising Details

The company's board of directors approved the creation, issue, and offer of 100,33,090 equity shares through a preferential issue on a private placement basis. The shares, with a face value of Rs 10 each, were priced at Rs 1,994 per share (including a premium of Rs 1,984), aggregating to approximately Rs 2,000.60 crore.

Key Investors

The fundraising round saw participation from several notable investors:

Mukul Agarwal's Investment

Investor Mukul Mahavir Agarwal, founder of Param Capital Group, made a significant investment in Tega Industries during this fundraising round. Agarwal acquired 5,01,504 shares worth Rs 100 crore, demonstrating confidence in the company's growth prospects.

Promoter Participation

The company's promoters also participated in the fundraising:

• Nihal Fiscal Services Private Limited invested Rs 44 crore
• Mehul Mohanka and Madan Mohan Mohanka each invested Rs 30 crore
• Manju Mohanka invested Rs 20 crore

Several promoter group entities, including family trusts, also participated in the fundraising.

Tega Industries' Recent Performance

Tega Industries has shown strong performance in the stock market, with shares gaining over 200% in the past five years. However, on the day of this announcement, the stock traded 3.1% lower at Rs 2,044.00.

Strategic Acquisition

In a separate development, Tega Industries, in partnership with Apollo Global Management, has signed a binding agreement to acquire US-based Molycop for an enterprise value of $1.48 billion. Tega will hold approximately 77% of the deal structure, with Apollo holding the remaining 23%. This acquisition is priced at 8.6x FY25 EBITDA of $172 million, which is significantly lower than Tega's current 25x EBITDA multiple.

Conclusion

This successful fundraising round, coupled with the strategic acquisition of Molycop, positions Tega Industries for potential growth and expansion in the global mineral beneficiation and mining industry. The strong participation from institutional investors and the company's promoters reflects confidence in Tega's business model and future prospects.