NEW DELHI: PE firm TA Associates is selling its 15% stake in mining equipment maker Tega Industries in a packaged deal that could combine the stake sale by the PE firm with an issue of fresh shares by the company to the incoming investor, people aware of the development said.The size of the combined transaction could be in the range of $100 million and Tega’s promoters could witness some dilution in their shareholding.Tega is estimated to be worth between $250 million and $300 million.The US-based PE firm and Tega’s promoters, the Mohanka family, have appointed an adviser to facilitate the stake sale and fund-raising process, these people said.The investment opportunity is likely to fetch interest from at least two global buyout funds and some home-grown private equity funds.TA Associates’ country head Dhiraj Poddar declined comment. Tega’s managing director Mehul Mohanka also declined comment.Tega makes conveyor belts that are used in gold and copper mines and manufactures a range of other consummables for the mining sector such as giant-sized sieves used in separation of impurities from ores.The company is likely to record operating profits of around Rs 170 crore by close of this fiscal. It’s operations span multiple geographies and it has subsidiaries in the US, Australia, Canada, Singapore and Brazil.Most of its manufacturing is concentrated in India, South Africa, Australia and Chile.