Business

Divgi TorqTransfer Systems IPO Opens On March 1

Divgi TorqTransfer Systems Limited IPO will open for subscription on Wednesday, March 1, 2023. The company has set a price band for its share sale at Rs 560-590 apiece.

Investors can make a bid of a minimum of 25 equity shares with each lot costing Rs 14,750.

The issue consists of a sale of fresh equity shares aggregating to Rs 180 crore, along with an offer-for-sale (OFS) of 39,34,243 equity shares aggregating to Rs 232.12 crore.

The firm is to raise approximately Rs 412.12 crore through the issue and it is valued at Rs 1,624.39 crore.

The initial public offering (IPO) of Divgi TorqTransfer Systems will close on March 3, 2023.

According to the firm its basis of allotment will be on March 9, 2023, and credit of shares will be done on March 13, 2023. The stock will list on exchanges on March 14, 2023.

The company has reserved 75 percent of the equity shares for qualified institutional bidders, whereas non-institutional investors will get a 15 percent allocation. The remaining 10 percent equity shares will be allocated to the retail bidders.

Divgi TorqTransfer Systems Limited is engaged in the business as an automotive component entity. Incorporated in 1964, the company is among very few automotive component entities in India with the capability to develop and provide system-level transfer cases, torque couplers, and dual-clutch automatic transmission solutions.

Also read: Stock market live: Mixed signals from the global market, slight gain in SGX Nifty

Spriha Rai

Recent Posts

Renowned Folk Singer Sharda Sinha Passes Away At 72; PM Modi Expresses Condolences

PM Modi expressed sorrow over Sinha’s death. "The passing of Sharda Sinha ji is deeply…

4 hours ago

US Election: India Confident Of Strong US Relations And Quad Continuity, Says Jaishankar

Jaishankar noted that the US-India relationship has flourished under both Democratic and Republican leadership, including…

4 hours ago

Sanskriti Diwas Marks 98th Birth Anniversary Of Kashiraj Dr Vibhuti Narayan Singh

Program coordinator Chakravarti Vijay Navad announced that 11 prominent individuals received the Kashiraj Dr. Vibhuti…

5 hours ago

Mallikarjun Kharge Slams ‘Batenge Toh Katenge’ Slogan During Jharkhand Campaign

Kharge emphasized that the BJP leaders promote divisive rhetoric as part of their agenda. He…

6 hours ago

Police Arrest Two In Fake Marriage Certificate Racket In Name Of Arya Samaj

DCP Nagar Abhishek Bharti revealed that five couples, including Shivani and Shrikant Yadav, recently filed…

7 hours ago

India And Nigeria Strengthen Counter-Terrorism Cooperation In Second Strategic Dialogue

Doval and Ribadu held detailed talks on challenges linked to terrorism and radicalization, including those…

7 hours ago