It was difficult for IIM-A graduate and first-gen entrepreneur Madan Mohanka to build an engineering company. But the over-45-year-old Tega Industries has grown exponentially while rewarding shareholders after it went public in 2021
Madan Mohanka, promoter and chairman, Tega Industries, with son Mehul (right), who is MD and group CEO
Image: Debashish Sarkar for Forbes India
In December 2021, when it was pouring initial public offerings (IPOs) in the primary markets, one issue stood out, both in subscriptions and the first-day listing gains with a long-term promising returns outlook on the stock exchanges. The Tega Industries IPO, which opened for subscription on December 1, 2021, had hit the ball out of the park in a month of the highest number of public issues.
The man behind the over-45-year-old company Tega Industries was beaming with joy. “It was a proud moment for me and the Tega family,” recalls Madan Mohanka.
Mohanka, 81, is promoter and chairman of the company that manufactures heavy-duty engineering and mechanical product design for the mineral processing, mining and material handling industries. The Kolkata-based company, which started in 1976, took years to be in the shape and form it is today, built through strategic decisions and some acquisitions.
“It was not easy. I have seen tough days, but I have never disappointed my employees. Even when the company was going through a rough phase in the initial years, I made sure my employees’ salaries were given out on time. I never missed out,” says Mohanka.
(This story appears in the 05 April, 2024 issue of Forbes India. To visit our Archives, click here.)