Link InTime

Mar 8, 2023

The IPO included an offer for sale (OFS) of up to 39,34,243 shares and a fresh issue of up to 180 crore rupees. The IPO was projected to bring in a little bit more than 412 crore at the upper end of the price range. Ahead of IPO, Divgi raised over Rs 185 crore from anchor investors. Shares of Divgi TorqTransfer Systems will list on NSE and BSE on March 14. Source: Reuters Divgi TorqTransfer Systems IPO Allotment Status: Divgi TorqTransfer Systems IPO allotment status will be finalised tomorrow, March 9, by the company. The pubic issue of the automotive component manufacturing company was subscribed 5.44 times. The allotment status will be released on the official website of the registrar i.e. Link Intime India Private Ltd -- linkintime.co.in. The allotment status will also be made available on the BSE website. Divgi TorqTransfer Share Price Listing Date, Time Share of the company will be credited to Demat account of the successful bidders on March 13. Shares of Divgi TorqTransfer Systems will list on NSE and BSE on March 14. While the special pre-open session will start at 9:45 AM, trading will commence at 10 AM . According to data, in response to the Rs 412 crore offer, which had 38,41,800 shares available and a price range of 560-590 per share, bids were received for 2,08,87,225 shares. The IPO included an offer for sale (OFS) of up to 39,34,243 shares and a fresh issue of up to 180 crore rupees. The IPO was projected to bring in a little bit more than 412 crore at the upper end of the price range. Ahead of IPO, Divgi raised over Rs 185 crore from anchor investors. It distributed 31.43 lakh equity shares to 12 funds at 590 per share. ICICI Prudential Mutual Fund (MF), Quant MF, Edelweiss MF, Motilal Oswal MF, Nippon India MF, Aditya Birla Sun Life Insurance Company, Aurigin Master Fund and Bengal Finance and Investment Pvt Ltd are among the anchor investors. Divgi plans to use the proceeds from IPO to meet the company's capital expenditure needs for the acquisition of equipment for its manufacturing facilities and other general business objectives. Divgi offers top-tier torque transfer and transmission solutions to OEMs for utility, passenger, commercial, electric, and agricultural vehicles in India and around the world.